Alantra Advises John Wood Group PLC and Siemens Energy AG on the sale of EthosEnergy to One Equity Partners

Aug 2024

Sell-side advisory

New York City – Alantra has advised John Wood PLC and Siemens Energy AG on the sale of EthosEnergy, a global independent service provider for rotating equipment for customers in the power generation, energy, industrial, and aerospace and defense markets, to One Equity Partners L.P (“OEP”), a middle market private equity firm with c. $10bn in assets under management. The acquisition by OEP is subject to regulatory approval and other customary closing conditions. Financial terms of the private transaction were not disclosed.

EthosEnergy was formed in 2014 as a joint venture between John Wood Group PLC and Siemens Energy AG. The company specializes in providing aftermarket maintenance, repair, and overhaul services, as well as outsourced operations & maintenance, to power generation and industrial customers. EthosEnergy supports clients operating industrial gas turbines and other complex equipment, employing over 3,600 professionals across 23 global sites and facilities.

As global electricity demand rises—driven by the growing use of artificial intelligence, data centers, electric vehicles, and the electrification of industrial processes—EthosEnergy is committed to supporting customers in the power generation, industrial manufacturing, and aerospace markets as they navigate the energy transition. OEP’s investment in EthosEnergy will bolster the company’s ongoing growth efforts, enabling it to provide critical services that ensure the operational viability of power assets through life extension, performance optimization, and decarbonization solutions.

“We are excited to partner with OEP as we embark on this next chapter of EthosEnergy’s long term strategy,” said Ana Amicarella, CEO of EthosEnergy. “Their expertise in the industrial sector will ensure EthosEnergy remains a vital player in an ever-changing energy landscape, connecting conventional practices with a sustainable future.”

“EthosEnergy’s business model, offering flexible, cost-effective services and solutions are well-positioned to meet the growing operations and maintenance requirements of power generating assets,” said Ante Kusurin, Partner at OEP. “We look forward to supporting EthosEnergy’s growth as they focus on meeting the global energy demands we face today and tomorrow.”