Triton Weighs Sale or IPO of Trench Group as AI Power Demand Lifts Grid Assets

Triton Partners is exploring a possible sale or public listing of Trench Group, the Berlin-based maker of high-voltage power transmission components, as investor attention moves from AI chips to the electrical infrastructure needed to run data centers. The European buyout firm has hired Morgan Stanley to advise on a dual-track process, with a potential exit possible as early as 2027 and a targeted valuation in the range of several billion euros, according to a report.