European fund manager STAR Capital has acquired wind turbine installation contractor Windhoist Holdings for an undisclosed consideration.
Windhoist has erected over 6000 turbines with an installed capacity in excess of 11GW across the world.
Most recently the UK-based contractor completed the portside construction of 84 offshore wind towers for the 588MW Beatrice offshore wind project, the first to utilise this approach in the UK.
Tim Adams, who has an engineering background and has spent his career employed in various roles in the renewable and maritime construction industries, has been appointed as the new managing director of the company.
Windhoist’s current managing director Hugh McNally will step down to pursue other opportunities.
This is the sixth investment by STAR’s €800m Fund 3.
STAR Managing Partner Uniti Bhalla said: “We are delighted to have acquired Windhoist, which we believe is an excellent platform with a long history and a reputation for high quality and technical and commercial innovation.
“Under STAR’s ownership, Windhoist will continue to demonstrate its commitment to the sector and will invest in expanding into adjacent service areas and markets, alongside its customers, both on- and off-shore.”