GE Vernova to acquire Woodward’s gas turbines business

Woodward (WWD) announced that it has signed a definitive agreement under which GE Vernova (GEV) is to acquire Woodward’s heavy duty gas turbines combustion parts business based in Greenville, S.C. Under the terms of the agreement and subject to meeting all closing terms and conditions, GE Vernova will acquire assets related to the business that are dedicated to supplying parts and services to GE Vernova. For more than 50 years, GE Vernova has held a significant presence in the Greenville area, supporting several local charities including the United Way, Roper Mountain Science Museum and American Heart Association, and other organizations, like the Greenville Drive, Peace Center and others. The transaction is expected to close in early 2025, subject to certain closing conditions. Woodward has determined that the transaction is not financially material, and the amount of the transaction is not disclosed.