Advent International, a private equity firm, completed the acquisition of distributed power business of General Electric, an American multinational conglomerate, for $3.25bn. "This is an exciting time to emerge as a stand-alone energy company. With the continued growth of renewables across the globe and the increased emphasis on energy efficiency, INNIO is well-positioned to be a key enabler and integral part of the energy transformation," Carlos Lange, INNIO President and CEO.