Baker Hughes buys Brush power generation unit in electric machinery boost
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Baker Hughes (NASDAQ:BKR) announced earlier on Monday that it agreed to acquire the power generation unit of Brush Energy from private equity investors One Equity Partners, adding to its turbomachinery and decarbonization portfolio while also expanding its electrification offerings; financial terms were not disclosed.
Baker Hughes (BKR) said the purchase supports its strategic commitment to lead in providing decarbonization solutions for the natural gas industry and historically hard-to-abate sectors.
"Through this acquisition, we will expand our core electrification capabilities and scope, further enhance our supply chain, and reach new industrial customers who can benefit from our broader turbomachinery and climate technology solutions offerings," said Rod Christie, Executive VP of Turbomachinery & Process Solutions at Baker Hughes.
Baker Hughes (BKR) recently reported Q2 net losses that ballooned to $839M compared to a $68M loss a year earlier.