Danish company Vestas is to acquire German service provider Availon in a deal valued at €88m.
The deal is expected to conclude this quarter and will include 400 employees and 2.6GW of capacity under contract.
Availon’s core market is Germany but it is also active in Austria, Italy, Portugal, Spain, Poland and the US.
Vestas said the deal “is a natural next step in accelerating the company’s profitable growth strategy in the service business”.
It said: “Size and scale matter and the acquisition strengthens our capabilities to service most major turbine technologies and to capture market shares. Availon is a solid strategic fit and a great complement to our recent acquisition of UpWind Solutions in the United States.”
Availon chief executive Ulrich Schomakers said: “Combining forces will contribute to our jointly becoming the preferred fleetwide service partner for a wider range of customers and turbine technologies.”
Availon will be acquired on a cash and debt basis. The company expects 2015 revenue to be €59.8m with an EBITDA of €5.2m.
Image: Availon
