Tower manufacturer CS Wind has announced it is to acquire Danish substructure producer Bladt Industries from Nordic Capital.
Established in 1965, Bladt makes offshore structures including monopiles, jackets, transition pieces and substations. While owned by Nordic, the company has completed a companywide strategic pivot to focus solely on the growing offshore wind industry, becoming a pureplay renewable energy supplier and solidifying its position as a specialized company related to wind power substructures.
A CS Wind spokesperson said that through the acquisition, the outfit had transferred its world-class production management know-how and production technology to Bladt to build a global substructure. CS Wind plans to further strengthen its competitiveness in the market they added.
The acquisition is subject to certain closing conditions, including relevant regulatory approvals said a Bladt spokesperson, adding that financial details of the transaction will not be disclosed.
“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 Bladt interim chief executive Michael Glavind
“With CS Wind as our new owners, Bladt will have a strengthened offset to further progress this journey. Having an owner which already knows and understands the offshore wind market and the complexities of steel construction will benefit us – and therefore also our customers – tremendously.”
An official from CS Wind said: “As demand for offshore wind power is expected to grow explosively over the next 10 years or more, this acquisition will be a historic turning point for CS Wind to expand its scope from wind tower business to offshore wind power substructure business in all directions.
“As the demand for ultra-large substructures of 3,000 tonnes or more is expected to continue to increase, we will further expand our leading market dominance in the superstructure and substructure business within the offshore wind power supply chain.”
Welcoming the deal, Senior partner, Nordic Capital Advisors and board member of Bladt Industries Olof Faxander added: “Nordic Capital is pleased to welcome CS Wind as the new long-term owners of 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. It will support the company´s commitment to innovate and accelerate a greener future, replacing fossil fuels with cleaner and more sustainable energy solutions.”