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GE Vernova Inc. has completed its acquisition of the remaining 50% stake in Prolec GE, fully consolidating the transformer manufacturer into its Electrification segment, the company announced on February 2, 2026.

The transaction, valued at $5.275 billion and funded through an equal mix of cash and debt, closes a 30-year joint venture between GE Vernova and Mexico-based Xignux. The deal was originally announced in October 2025 and finalized following regulatory approvals.

Prolec GE is a major supplier of power transformers and related components used across electricity generation, transmission, and distribution. The business employs approximately 10,000 people and operates seven manufacturing facilities across the Americas, including five in the United States.

With the acquisition completed, Prolec GE and its affiliates will go to market under the GE Vernova name and operate within the company’s Electrification segment. GE Vernova said the transaction is immediately accretive and is reflected in its 2026 financial guidance, with expected growth contributions extending through 2028.

Leadership continuity will be maintained, with Ricardo Suarez continuing as Prolec GE CEO, reporting to Philippe Piron, CEO of GE Vernova Electrification.

The acquisition strengthens GE Vernova’s presence in North America at a time of increasing demand for grid infrastructure driven by electrification, data center growth, and energy transition investments. It also marks the company’s first major acquisition since becoming a standalone publicly traded energy company in 2024.

Source: GE Vernova