Vestas has acquired US independent service provider UpWind Solutions and its subsidiaries for $60m on a debt and cash free basis.
San Diego, California-based UpWind Solutions has about 310 employees, and currently services wind power plants in nine US states with a total capacity of more than 3GW.
The company also supplies parts for most major turbine technologies, performs blade inspections and offers various performance upgrades.
The acquisition of is effective as of today and Vestas expects it to have only a limited effect on Vestas’ expected result for 2015.
Vestas Global Service group senior vice president Christian Venderby said: “The acquisition accelerates our profitable growth strategy and helps Vestas to capture the full potential of the service business.
“We are broadening our capabilities and increasing the size of our addressable market for all major turbine technologies. In short, the acquisition is a strong strategic fit.”
UpWind Solutions chief executive officer Peter Wells said: “We’re delighted to become part of the global wind industry leader, and look forward to jointly ensuring that our expanded customer base receives the best possible operations and maintenance service for their fleets.”
Image: V110 wind turbine blades (Vestas)
