Alantra advises John Wood Group on the sale of TransCanada Turbines to TC Energy Corporation

Nov 2020

Sell-side advisory

Value €67 million

Boston – Alantra, a leading global investment bank and asset management firm, is pleased to announce it has advised UK-based John Wood Group Holding B.V. on the sale of its 50% equity stake in TransCanada Turbines Ltd. (“TCT”) to TC Energy Corporation. Based in Alberta, Canada, TCT is a leading OEM (GE and Siemens)-authorized maintenance, repair and overhaul service provider for aeroderivative turbines for global power generation and oil & gas customers. The transaction closed on November 13, 2020 for a cash consideration of  $67,000,000.   

“This was a typical Alantra divestiture process, involving global competition from strategics and private equity from North America, Europe and Asia,” said Wade Aust, Managing Director & Partner with Alantra. “The combination of Alantra’s sector knowledge in the aerospace and industrial turbine MRO markets and our strong relationships with the leading sector players world-wide were essential in bringing this deal to a successful close.”

“Moreover, our knowledge of the OE and OEM-licensed MRO providers as well as the independent service providers enabled us to navigate the complexity of selling a business with OEM-licenses from the two leading aeroderivative turbine OEMs,” said David Waldstein, Managing Director with Alantra. “Alantra is unique in that we offer both specialization in these subsectors and connections to the right decision makers.” 

The Alantra team advising John Wood Group included Mr. Aust, Mr. Waldstein, Damien Perera (Vice President, Boston), Jackson Rimpas (Associate, New York) and Gardiner Schroeder (Analyst, Boston).