Maven Capital has invested £5.4m in GEV Group securing a minority stake in the group.
The funds will help GEV invest further in projects and develop its position as a renewables market leader, particularly in wind power and offshore.
GEV chief executive David Fletcher said: “The investment secured through Maven will provide the catalyst required to fund further expansion and innovation in the key areas of our business and allow for the required infrastructure investment to support our growth ambitions.”
Maven partner Andrew Ferguson said: “The investment in GEV Group has given Maven clients an excellent opportunity to invest in a genuinely niche business, operating across diverse markets and geographies.”
The company has also announced that Ron Smith will become its new chairman. He was previously on the board of Siemens UK from 1997 to 2010.
Ferguson said: “The appointment of Ron Smith as chairman will be a key asset to GEV. He has an excellent track record in the renewables space.”
The announcements were made as GEV Wind Power moves closer to the commercialisation of its blade maintenance Habitat and other projects.
Image: Generic wind farm (Morguefile)
