Siemens Energy weighs sale of electrical components maker Trench
Siemens Energy AG is exploring a sale of a high-voltage components unit as the German gas turbine and grid technology maker focuses on core businesses, people with knowledge of the matter said.
Munich-based Siemens Energy is working with Deutsche Bank AG on the sale process for Trench Electric, which makes bushings, instrument transformers and coil products, according to the people. Non-binding bids are due in the coming weeks, they said, asking not to be identified because discussions are private.
Siemens acquired Trench from buyout firm CVC Capital Partners in 2004 for €285 million ($315 million). Trench and partner firm HSP Group’s 3,000 employees and 10 factories engineer and design specialized high voltage electrical products for utility and industrial markets, according to their website.
