One Equity Partners has agreed to sell the power generation business of UK-based BRUSH Group to energy technology company Baker Hughes.
The deal comes just over a year after OEP bought BRUSH, which provides power-related products and solutions including generators, condensers, motors, transformers, switchgear and control and monitoring systems.
Its power generation unit designs, assembles and services large scale generators that provide primary and standby electrical power to customers across the infrastructure, renewables, oil and gas and utilities sectors.
OEP managing director Ori Birnboim said, “During our ownership period, we were able to execute our value creation plan and support BRUSH in becoming a strong standalone company.
“As a current customer of BRUSH’s Power Generation business, Baker Hughes is a natural buyer for the business.”
The transaction is expected to close by the end of the year, subject to customary closing considerations.
Earlier this year OEP boosted its asset under management to $10bn thanks to its largest-fund close to date.
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