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Divestiture • Machinery

Hyliion Acquires GE Additive - KARNO

On August 25, 2022, Hyliion acquired machinery company GE Additive - KARNO from GE Additive for 37M USD

Acquisition Context
  • This is Hyliion’s 1st transaction in the Machinery sector.
  • This is Hyliion’s largest (disclosed) transaction.
  • This is Hyliion’s 1st transaction in the United States.
  • This is Hyliion’s 1st transaction in Connecticut.

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M&A Deal Summary
Date August 25, 2022
Target GE Additive - KARNO
Sector Machinery
Buyer(s) Hyliion
Sellers(s) GE Additive
Deal Type Divestiture
Deal Value 37M USD

Target Company

GE Additive - KARNO

Fairfield, Connecticut, United States
GE Additive's KARNO is a generator that operates over 20 different fuels including hydrogen, natural gas, propane, ammonia, and conventional fuels. The technology uses heat to drive a sealed linear generator to produce electricity. The heat is produced by reacting fuels through flameless oxidation or other heat sources including renewables.
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Buyer Overview 1

Buyer

Hyliion

Cedar Park, Texas, United States
Category Company
Founded 2015
Sector Business Services
Employees93
Revenue 1M USD (2023)
DESCRIPTION

Hyliion is focused on reducing the carbon intensity and greenhouse gas (GHG) emissions of Class 8 commercial trucks by providing electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, the company offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. It designs, develops, and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial trucks, with the goal of transforming the commercial transportation industry’s environmental impact at scale. Hyliion was formed in 2015 and is based in Cedar Park, Texas.

Deal Context for Buyer #
Overall 1 of 1
Sector: Machinery 1 of 1
Type: Divestiture 1 of 1
State: Connecticut 1 of 1
Country: United States 1 of 1
Year: 2022 1 of 1
Size (of disclosed) 1 of 1

Seller Profile 1

SELLER

GE Additive

Fairfield, Connecticut, United States
Category Company
Sector Technology Hardware
DESCRIPTION

GE Additive is a digital industrial company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive.

Deal Context for Seller #
Overall 2 of 2
Sector: Machinery 2 of 2
Type: Divestiture 2 of 2
State: Connecticut 2 of 2
Country: United States 2 of 2
Year: 2022 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-21 GE Additive - Arcam EBM Q20plus

Connecticut, United States

GE Additive's Arcam EBM Q20plus create dimensionally accurate parts quickly and efficiently by utilizing a high-power electron beam for high melting capacity and productivity. The Arcam EBM process takes place in a vacuum and at high temperature, resulting in stress-relieved components with material properties better than cast and comparable to wrought material.

Sell -

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