The Denmark-based independent service provider Connected Wind Services A/S (CWS) has been acquired by German utility company EnBW Energie Baden-Württemberg AG. For EnBW this is a step to further expand its renewable energy business.
In particular, the aim is to tap the potential for new customers in the Nordics and Germany together with CWS, which has subsidiaries in Germany and Sweden and to strengthen its position as a full-service provider for the planning, construction, operation, maintenance and service of wind farms. Connected Wind Services will remain an independent brand.
The transaction was signed with the majority shareholder of CWS, Polaris Private Equity. The purchase price was not disclosed and the transaction is subject to the approval of the Federal Cartel Office. The latter one will examine the acquisition over the next few weeks and the transaction is expected to be completed at the end of 2016.
CWS has 190 employees and roughly 50 service teams, which maintain about 1,800 wind turbines in Europe. The company provides complex service projects for wind turbine generators as well and generated revenues of approximately € 35 million in 2015. The company operates a modern workshop for the refurbishment of wind turbine components including MW gearboxes at its premises in Balle, Denmark.
As EnBW CTO Hans-Josef Zimmer explains, EnBW wants to expand their range of services from planning and constructing on- and offshore wind farms to maintaining and servicing those farms. “CWS is one of the leading providers of maintenance services for wind turbines in Europe and has an experienced team with great expertise. In combination with the energy industry know-how and financial capacity of EnBW, we will generate growth together by offering a range of services on the European market. EnBW and CWS complement each other outstandingly. Together we will be stronger”, Zimmer added.
“In order to successfully develop CWS further, we believe that EnBW as the future owner will be an excellent partner who will open up new growth opportunities for us. Within the European wind industry, EnBW is one of the most growth dedicated energy supply companies. The size and the expertise we gain from the new ownership will clearly be to the benefit of all our customers. In return, with CWS EnBW is securing solid service and maintenance expertise, this is absolutely a win-win for all”, emphasised Carlos Christensen, CEO of CWS.
EnBW / Tanja Peschel
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