Woodward Governor Company (Nasdaq:WGOV) has divested its Global Services division to GE Power Systems, Inc., an operating division of General Electric Company (NYSE:GE). Global Services provides comprehensive retrofit solutions and services for the installation and operation of Woodward turbine control systems for end users of industrial turbines. Its primary focus is on the power generation, gas processing, and hydro power/river control industries. The business provides experts in project management, site services, training, and remote monitoring. Global Services is based in Loveland, Colorado and has operations in the United Kingdom, Brazil and Asia.
Woodward is the world’s largest independent designer and manufacturer of energy control solutions for aircraft and industrial engines, turbines and power equipment. Woodward’s products and services are used in the aerospace, power generation, oil and gas, rail, marine and industrial markets.
GE Power Systems is one of the world’s leading suppliers of power generation technology, energy services and management systems, servicing the largest installed base of power generation equipment in the energy industry.
Terms of the transaction were not disclosed. Philpott Ball & Werner served as advisor to Woodward.