In a significant development in the energy sector, Triton Fund V, advised by Triton, has announced its agreement to acquire Siemens Energy's Trench business. While the financial details of the transaction remain undisclosed, the deal's closure is contingent upon regulatory approvals, necessary consultations within Trench, and other customary closing conditions. It is anticipated to be finalized in the first half of 2024.

Trench, a renowned name in the manufacturing of high-voltage grid components, is a leader in its market. The company produces items like bushings, instrument transformers, and coil products under the well-established brands HSP and Trench. With a global presence spanning Europe, North America, and China, including countries like Germany, Austria, France, Italy, Canada, and Bulgaria, Trench operates in nine factory locations and boasts a workforce of 2,400 employees. Its strategic positioning makes it a pivotal player in facilitating and capitalizing on the ongoing Energy Transition, a major focus for Triton.

Steffen Reimund, Investment Advisory Professional at Triton, expressed his admiration for Trench's standing in the T&D component market. He emphasized the company's deep technical expertise, an exceptional product portfolio, and its dominant market presence in all three segments. Additionally, Trench holds long-standing relationships with esteemed clients, cementing its status as an industry leader. Triton is enthusiastic about collaborating with Trench's management and employees to bolster the business further. They also intend to expand its market leadership through a long-term supply agreement with Siemens Energy.

Trench's acquisition aligns with Triton's investment strategy, which targets market-leading firms displaying high growth potential and technological prowess. Triton's extensive knowledge in the high-voltage electrical equipment sector, coupled with its previous investments in companies like EQOS and Sediver, positions the company for a seamless transition. Moreover, Triton has a track record of successfully executing corporate carve-outs from prominent corporations, further underscoring its expertise in this domain.

The acquisition of Siemens Energy's Trench business is a strategic step by Triton, solidifying its presence in the high-voltage grid components market and bolstering its commitment to the ongoing Energy Transition.

Source: triton-partners.com