Swedish elevators supplier Alimak Group has acquired Danish company Avanti for €91m to expand into the wind power market.
Avanti supplies service lifts, safety ladder systems, safety equipment, tower internals and after-market service for wind turbine towers.
The company has six production facilities in Denmark, Spain, China, US and Brazil. It has installed more than 30,000 service lifts globally, according to Alimak.
The Swedish company said it will finance the deal through a bridge loan that will be repaid from the issue of up to SEK 800m in new shares.
“The demand for service lifts for wind turbine towers is expected to grow the coming years due to increased heights of the towers and increased safety requirements,” Alimak Group chief executive Tormod Gunleiksrud said.
“The acquisition expands and diversifies our offering of vertical access solutions for industrial customers globally, enables cross-selling opportunities and adds an opportunity to expand after sales well in line with Alimak´s strategy and business model.”
Avanti chief executive said: “Becoming part of Alimak Group enables Avanti to continue its development of best in class safety products and solutions to the benefit of our customers within the wind industry.”
Image: SXC
