AP Moller Holding, which controls shipping giant Maersk, has made its first foray in renewables with the acquisition of Danish turbine system supplier KK Group.
The value of the transaction was not disclosed and is subject to approval form Danish and German competition authorities. It is expected to close in the third quarter of this year.
KK Group, which includes the KK Wind Solutions division, said the change in ownership will not impact its strategic direction as the new owners “embrace and fully support the current growth strategy and projected plans”.
AP Moller Holding chief investment officer Jan Nielsen said: “KK Wind Solutions has an impressive history and holds a strong track record as a preferred supplier of electro-mechanical systems to the world’s leading wind turbine manufacturers.
“As the wind industry has gained momentum globally, KK Wind Solutions must further develop its global footprint and follow its customers’ global expansions.”
He added: “With AP Moller Holding’s global mindset, network and expertise, we believe we can be a good partner and an engaged owner to support KK Wind Solutions on this exciting journey.”
KK Group said the company is now “in the best possible positions to capture the growth opportunities together with its customers”.
Chief executive Chlinton Arendahl Nielsen said: “We are very proud and humble about the prospect of having AP Moller Holding as our new owner.
“AP Moller Holding brings in very strong capabilities and financial strength to accelerate our strategy towards 2025, allowing us to follow our customers globally and to expand our system solutions across technology, supply chain and service.
“The strategic fit between the companies is very strong and AP Moller Holding is an ideal owner to support KK Wind Solutions on our future growth journey.”