German drive specialist Flender has reached an agreement to acquire Finnish wind turbine gearbox manufacturer Moventas from investor N4 partners.
Integrating Moventas’ engineering and service capabilities will further foster Flender’s wind drives business under the Winergy product brand.
Moventas has 22GW of installed base as well as multi-brand capabilities while its global production and service network adds an additional 3GW of wind gearbox assembly capacities, next to extensive capabilities in field services as well as gear manufacturing.
Flender Group CEO Andreas Evertz said: “Moventas is a well-known brand in the wind industry.
“We are very fond to have their expertise and capacities under our roof now.
“It lets us further expand our wide product portfolio for the growing wind market to support the important energy transition.
“With gearboxes, generators, couplings, integrated drivetrains and a comprehensive multi-brand service portfolio we are the unique partner for the wind market.”
Moventas group CEO Pedro Figueiras added: “Moventas has been a pioneer in the Wind industry with its relentless focus on creating a culture of technological leadership and service excellence.
“Today, we are honoured to join Flender and can’t wait to create more value for our customers together.”
The acquisition is still subject to approval by authorities and is expected to close in summer 2022.
It would then include the full scope of Moventas Gears Oy business with all global production and service facilities.