Grupo Daniel Alonso, owner of 68% of Windar, and Siemens Gamesa, which owns the remaining 32%, have reached an agreement to sell the company to Bridgepoint.
The turbine manufacturer said the move was part of its strategy to focus on its core business.
Siemens Gamesa chief executive Jochen Eickholt (pictured) said: “The sale of Siemens Gamesa’s stake in Windar is a natural decision for us, as part of our strategy to focus on our core business: wind turbine design, manufacturing, installation and maintenance.”
Orlando Alonso will continue as president and chief executive of Windar, and will retain an indirect minority stake in the company.
The closing of the transaction is expected to take place before year end. Final transaction closing is subject to customary regulatory approvals.
Bridgepoint is a UK-based private equity investor with more than €38bn of assets under management in the Europe, the US and China.