Danish investor CataCap has become the majority shareholder in large-scale wind turbine component precision machining business Nordmark.
CataCap has acquired 65% of the Danish business, which is a global market leader within high precision machining and processing of components to the biggest wind turbines on the market, especially offshore.
The company’s current management will continue as significant minority shareholders, CataCap will consolidate Nordmarks’s strong market position and further accelerate growth abroad.
The current management consisting of Morten Mørk, Michael Jacobsen and Jens Karkov Jakobsen will continue in their respective roles and remain significant shareholders.
Nordmark has three factories in Denmark and one factory in northern Germany in the harbour city of Cuxhaven.
CataCap partner Jens Hahn-Petersen said: “We see enormous growth potential in Nordmark.
“The company is well-positioned in a market that requires unique competencies and special know-how to manage the size of the components, extreme demands for precision and complicated logistics.
“We look forward to further strengthening its position in the global offshore market which is projected to grow significantly in the coming years.”
According to Deloitte the offshore wind market in Europe and US is projected to grow at 26% per year towards 2026.
Catacap said Nordmark has the expertise, technology, and logistics to deliver to both markets and future offshore wind platforms which in the coming years will consist of wind turbines with a capacity of more than 20MW and a wingspan of more than 250 metres.
Nordmark chief executive Morten Mørk said: “We have had a long and very positive dialogue with CataCap. Now the time is right in terms of taking the next step for Nordmark.
“Together with CataCap we will ensure that we have the capacity to help our customers to deliver for the offshore wind platforms that are planned in the next couple of years.
“We are investing in new machinery and personnel which will gear our organization to meet the increased demand in both Europe and the US.”
CataCap has been assisted by Accura, Deloitte, Monitor Deloitte, McKinsey, and The Footprint Firm as legal, financial, commercial and ESG advisers, respectively. This is CataCap’s 13th investment.
Nordmark has been advised by Atrium Partners and Andersen Partners.