Advent International Carve-Out of GE Distributed Power (INNIO)

Energy · Austria · $3.25B

Advent International completed the acquisition of General Electric's Distributed Power business in a $3.25 billion deal, rebranding the standalone company as INNIO. The business included the Jenbacher and Waukesha gas engine product lines. In March 2023 the Abu Dhabi Investment Authority acquired a significant minority stake. INNIO listed on the Nasdaq Global Select Market in June 2026 at an approximate $20.3 billion valuation, in a secondary offering benefiting existing shareholders Advent and ADIA.