GE Vernova Completes Acquisition of Prolec GE

GE Vernova Inc. has completed its acquisition of the remaining 50% stake in Prolec GE, its former joint venture with Xignux. The transaction, first announced in October 2025, closed after receiving required regulatory approvals. The purchase price was $5.275 billion, funded with a mix of cash and debt.

Prolec GE is an electrical equipment supplier in North America with approximately 10,000 employees and seven manufacturing sites in the Americas, including five in the United States. The company manufactures transformers and transformer components for electricity generation, transmission, and distribution and provides related services. The acquisition consolidates Prolec GE following three decades as a joint venture.

GE Vernova Chief Executive Officer Scott Strazik said, “We’re excited to reach this important milestone with our first sizable acquisition as a standalone public company and welcome the Prolec GE team into GE Vernova. We are building on a decades-long partnership and combining the strengths of our two companies to offer customers a broader portfolio and operate at a higher capacity to fulfill expectations, especially in North America where grid demand is strong. As we continue to focus on our mission to electrify to thrive and decarbonize the world, this acquisition will play a critical role in driving our sustained growth in Electrification.”

Prolec GE and its affiliates will operate under the GE Vernova brand within the company’s Electrification segment. The acquisition is expected to be immediately accretive and contribute to profitable growth, and it is included in GE Vernova’s 2026 financial guidance and outlook through 2028.

Philippe Piron, CEO of GE Vernova’s Electrification segment, said, “Our customers are asking for more capacity from the grid. With Prolec GE now fully part of GE Vernova, we are better equipped to respond to that demand and better serve our installed base, utilizing our combined manufacturing footprint for transformers and a strong pipeline of innovation to serve the electrification needs of the world. Our priority from day one is a smooth integration, where customers continue to receive the service and quality they expect, supported by the scale of the combined Prolec GE and GE Vernova teams.”