MTU Aero Engines has sold Vericor Power Systems to CSL Capital Management of Houston, Texas, a company that focuses on the energy sector.
The agreement to sell the marine and industrial gas turbine (IGT) OEM was signed in early June year, with the transaction closing this month.
“Vericor sees growth opportunities in the oil and gas sector,” said August. Reiner Winkler, CEO of MTU Aero Engines. “By divesting Vericor, we are concentrating our OEM activities on our core business, aircraft engines, and driving forward technologies for sustainable and ultimately emissions-free aviation.”
MTU established Vericor Power Systems in 1999 as a joint venture with Allied Signal – now Honeywell. Since 2002, this IGT specialist has been a wholly owned subsidiary of MTU Aero Engines. Vericor has around 50 employees.
“We are pleased to partner with Vericor and to utilize its unique low-emission gas turbines to provide customer solutions for the military, marine, energy and power generation, and other industries in an efficient and environmentally responsible fashion,” said Charlie Leykum, Founding Partner at CSL Capital Management.
MTU is retaining the IGT maintenance business for the LM series of industrial gas turbines, which is operated by MTU Maintenance Berlin-Brandenburg.
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