MTU Aero Engines AG has sold Vericor Power Systems. This marine and industrial gas turbine (IGT) OEM based in Alpharetta, Georgia, U.S.A., is being acquired by U.S. private equity company CSL Capital Management of Houston, Texas, which focuses on the energy sector. The agreement was signed in early June 2021 and the transaction was closed this month. Reiner Winkler, CEO of MTU Aero Engines AG, on the background: “Vericor sees growth opportunities in the oil and gas sector. We are pleased that our transaction partner CSL can offer Vericor good opportunities for development. 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.” The divestment will have no impact on MTU's revenue and earnings forecast for the 2021 fiscal year.
CSL Capital is an investment firm focused on the energy services, energy equipment and energy technology sectors. Its global portfolio of companies includes venture, start-ups and later-stage investments. Since its inception in 2008, CSL Capital Management has raised in excess of US$1.9 billion in equity capital.
