JULY 10 2023
Nordic Capital has reached an agreement to sell Bladt Industries, a leading supplier to the growing offshore wind industry. The acquirer, CS WIND, is the global number one in wind turbine tower manufacturing and the new ownership will further support the company’s journey to become a specialised enabler of the global green transition.
During the Nordic Capital ownership, Bladt Industries has completed a companywide strategic pivot to focus solely on the growing offshore wind industry, thereby becoming a pureplay renewable energy supplier, well placed to accelerate a greener future.
Michael Glavind, Interim CEO of Bladt Industries, welcomes the new owners:
"Our company has undertaken an impressive transformation in recent years, to better align our offering with the global need for an expansion of offshore wind farm capacity and become a leading supplier. With CS WIND as our new owners, Bladt will have a strengthened offset to further progress this journey. Having an owner who already knows and understands the offshore wind market and the complexities of steel construction will benefit us – and therefore also our customers - tremendously."
“Nordic Capital is pleased to welcome CS WIND as the new long-term owners of Bladt Industries. As a leading turbine tower manufacturer with a long industry track record, a truly global reach, strategy, and a strong platform, CS WIND will be a strategic fit for Bladt Industries. They will support the company´s commitment to innovate and accelerate a greener future, replacing fossil fuels with cleaner and more sustainable energy solutions.” comments Olof Faxander, Senior Partner, Nordic Capital Advisors and Board member of Bladt Industries.
The acquisition is subject to certain closing conditions, including relevant regulatory approvals. Financial details of the transaction will not be disclosed.
Press contacts:
Nordic Capital
Elin Ljung
Head of Communication and Sustainability, Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: elin.ljung@nordiccapital.com
Bladt Industries
Rikke Tikjøb Christiansen
Chief People & Transformation Officer
Tel. +45 4083 7583
e-mail: rtc@bladt.dk
About Bladt
Bladt Industries works to support a sustainable future. We are specialised in the production of large and complex steel structures, including foundations and substations, for the global offshore wind industry. Based on our comprehensive track record, our industry-leading production facilities and our competent work force we are the foundation for the green energy transition offshore. Bladt Industries has produced more than 25 substations and 3100 foundations. For more information, please visit www.bladt.dk
About CS WIND
CS WIND is headquartered in Korea and the global number one wind turbine tower manufacturer. CS WIND has operating production facilities in eight countries on three continents. Over the past decades, CS WIND has provided more than 13,000 towers for major global projects and is now supplying wind towers to major customers in the industry such as Vestas, Siemens-Gamesa, GE, Goldwind, etc. In the field of wind tower manufacturing, CS WIND has world-leading production system, quality control system and welding technology that have led CS WIND to become the World's No.1 wind tower manufacturer. For more information see www.cswind.com
About Nordic Capital
Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested EUR 22 billion in over 130 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com
“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”
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