Nordic Capital has reached an agreement to sell Denmark-based Bladt Industries to the wind turbine tower manufacturer CS Wind.
During the Nordic Capital ownership, the company completed a company-wide strategic pivot to focus solely on the growing offshore wind industry, becoming a pureplay renewable energy supplier, according to the press release.
“Our company has undertaken an impressive transformation in recent years, to better align our offering with the global need for an expansion of offshore wind farm capacity and become a leading supplier” , said Michael Glavind , CEO/CFO at Bladt Industries.
“With CS WIND as our new owners, Bladt will have a strengthened offset to further progress this journey. Having an owner who already knows and understands the offshore wind market and the complexities of steel construction will benefit us – and therefore also our customers – tremendously.”
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Bladt Industries was established in 1965 and it focuses on manufacturing offshore wind components such as monopiles, jackets, transition pieces, and substations.
Bladt Industries is working on several major offshore wind projects globally, including the Calvados offshore wind farm in France for which the company loaded out the last transition pieces this morning.
A few months ago, the firm also delivered all the transition pieces for Vattenfall’s Vesterhav Nord & Syd offshore wind project. Bladt was also responsible for the manufacturing of the offshore substation topside and the jacket foundation for the Vineyard Wind 1 project in the USA.
The acquisition by the South Korea-headquartered CS Wind is subject to certain closing conditions, including relevant regulatory approvals. Financial details of the transaction will not be disclosed, said Bladt Industries.
“As a leading turbine tower manufacturer with a long industry track record, a truly global reach, strategy, and a strong platform, CS WIND will be a strategic fit for Bladt Industries. They will support the company ´s commitment to innovate and accelerate a greener future, replacing fossil fuels with cleaner and more sustainable energy solutions”, said Olof Faxander , Senior Partner, Nordic Capital Advisors and Board member of Bladt Industries.