M&A Deal Summary

GE Vernova Acquires Gesat

On September 2, 2024, GE Vernova acquired manufacturer Gesat from Dussur and General Electric

Acquisition Highlights
  • This is GE Vernova’s 1st transaction in the Manufacturing sector.
  • This is GE Vernova’s 1st transaction in Saudi Arabia.

M&A Deal Summary

Date 2024-09-02
Target Gesat
Sector Manufacturing
Buyer(s) GE Vernova
Sellers(s) Dussur
General Electric
Deal Type Add-on Acquisition

Target

Gesat

Dammam, Saudi Arabia
Gesat manufactures heavy duty gas turbines, accessory module skids, and components. Gesat was founded in 2017 and is based in Dammam, Saudi Arabia.

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Buyer(S) 1

Buyer

GE Vernova

Cambridge, Massachusetts, United States

Category Company
Founded 2023
Sector Energy Services and Equipment
Employees76,800
Revenue 34.9B USD (2024)
DESCRIPTION

GE Vernova is a global energy company that includes power, wind, and electrification segments and is supported by its accelerator businesses. GE Vernova was founded in 2023 and is based in Cambridge, Massachusetts.


DEAL STATS #
Overall 1 of 1
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: Saudi Arabia M&A 1 of 1
Year: 2024 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-11 Proficy

Cambridge, Massachusetts, United States

Proficy is a manufacturing software business that helps manufacturers monitor and optimize production.

Sell $600M

Seller(S) 2

SELLER
DESCRIPTION

Dussur is a private equity firm focused on investments in Saudi Arabia through joint venture partnerships. The Firm generally seeks to invest in strategic industrial companies with a focus on the metals and specialty chemicals sectors. Dussur is headquartered in Riyadh, Saudi Arabia.


DEAL STATS #
Overall 1 of 1
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: Saudi Arabia M&A 1 of 1
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-09 Italmatch

Genoa, Italy

Italmatch is a chemical group, specialized in performance additives for water treatment, oil & gas, lubricants and plastics, and boasts a wide product range able to fulfil the requirements of the most demanding applications, including personal care. Italmatch was founded in 1997 and is based in Genoa, Italy.

Buy -
SELLER

General Electric

Boston, Massachusetts, United States

Category Company
Founded 1892
Sector Diversified
Employees205,000
Revenue 38.7B USD (2024)
DESCRIPTION
General Electric office in Dubai, United Arab Emirates.
General Electric office in Dubai, United Arab Emirates.

General Electric is a diversified technology and financial services company. Products and services range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. General Electric was founded in 1892 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 46 of 46
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: Saudi Arabia M&A 1 of 1
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-10 General Electric - Nuclear Activities

Boston, Massachusetts, United States

General Electric's Nuclear Activities bring nuclear steam turbine technology and services expertise with EDF strengthening its commitment to the nuclear power sector. General Electric's Nuclear Activities is based in Boston, Massachusetts.

Sell -