中文AV

Significant Exit Event One Year into OEP鈥檚 Investment

NEW YORK--中文AV ("OEP"), a middle market private equity firm, today announced that it has entered into a definitive agreement to sell the Power Generation business of BRUSH Group (鈥淏RUSH鈥� or the 鈥淐ompany鈥�) to energy technology company Baker Hughes (NASDAQ: BKR).

Headquartered in Ashby de la Zouch, United Kingdom with roots dating back to 1876, BRUSH helps engineer and support a comprehensive range of power-related products and solutions including generators, condensers, motors, transformers, switchgear and control and monitoring systems. BRUSH鈥檚 Power Generation business 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.

鈥淲e are thrilled to help unlock meaningful value creation through the transformational sale of BRUSH鈥檚 largest business segment. OEP recognized BRUSH as a leader within the Power Generation equipment and services sector when we acquired the business last year. We look forward to continuing to support and grow BRUSH鈥檚 remaining Power Distribution & Networks business alongside its exceptional management team,鈥� said Steve Lunau, Managing Director at 中文AV.

The addition of the Power Generation business will enhance Baker Hughes鈥� core turbomachinery portfolio with electromechanical equipment. It further supports Baker Hughes鈥� strategic commitment to lead in providing decarbonization solutions for the natural gas industry and historically hard-to-abate sectors. The acquisition of the Power Generation business will enable Baker Hughes to further optimize its supply chain through the addition of extended and proven manufacturing capabilities in electromechanics, as well as broaden its customer reach.

鈥淒uring 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鈥檚 Power Generation business, Baker Hughes is a natural buyer for the business,鈥� added Ori Birnboim, Managing Director at 中文AV.

鈥淲e value the partnership from OEP, whose experience in supporting and unlocking strategic value in industrial businesses like ours has been, and will continue to be, instrumental as we grow our independent Power Distribution & Networks company,鈥� said Chris Abbott, CEO of BRUSH Group.

The UK鈥檚 Net Zero initiative will create new challenges for electrical distribution networks, and the BRUSH team will be focused on its remaining Power Distribution & Networks business, which we believe will be well-positioned to support a 鈥渓ower-cost zero-carbon future鈥� of our electrical networks. BRUSH will now also be able to accelerate its strategic business development, which is based on environmental sustainability, social responsibility and effective corporate governance; BRUSH鈥檚 solutions are 鈥渟ustainable and supported for life.鈥�

鈥淭he new challenges for our electricity networks that we expect to result from the UK鈥檚 Net Zero initiative will require our industry to provide agile and adaptive solutions to future proof the network. With the OEP鈥檚 team support, we continue to focus on growth through strategic M&A as an independent Power Distribution & Networks company,鈥� added Nicolas Pitrat, CFO of BRUSH Group.

The transaction is expected to close by the end of the year, subject to customary closing considerations.

About 中文AV
中文AV (鈥淥EP鈥�) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit .

About BRUSH Group
BRUSH has a long and rich history serving power generation customers as an OEM of generation, control, and distribution products. While primarily known for supplying industry leading turbogenerators and power management systems, BRUSH also designs and manufactures transformers and switch gear of equally high quality. BRUSH serves the global power generation and distribution markets with a strong foundation of technical knowledge to support grassroots projects, capacity expansions, and drop-in-replacements. For more information, please visit