Amara Nzero explains in a statement that, with this acquisition, it seeks to add capabilities and strengthen its know-how in wind energy. The Spanish company thus enters the "first link in the wind turbine manufacturing value chain" and expands its offer, which, in its opinion, will boost its activity in this sector in Spain, Brazil, Mexico, the United States and Asia. Along these lines, Amara Nzero expects to reach a turnover of around 800 million euros in 2022, with organic growth of 94%. Cavycar will additionally contribute E15 million of inorganic growth to the Amara NZero group, according to the company's forecasts. Cavycar's customers include wind turbine manufacturers "worldwide", to whom it supplies materials for the manufacture and assembly of the machines, "with the exception of large components".
"Although they represent a minor part of the final cost of a wind turbine, any problem with their supply can be critical in the production process, which is why the high quality of service provided by Cavycar is essential for its customers," Amaraz Nzero emphasizes in its note.
Cavycar will continue to act as an independent company and its CEO and still minority shareholder, Guillermo Beltrán, with 25 years of experience in the industrial and wind energy sector, will remain at the head of the company.
"His entire team will also continue in their current responsibilities, so their customers will continue to receive the same level of service as before, being able to expand services and capabilities thanks to the entry of Amara Nzero," the acquiring company adds.
Founded in 1957, Amara NZero defines itself as "an independent, end-to-end sustainable energy expert, acting as a provider of electrical products and related solutions through its renewable, electrification and energy transition services areas." It employs more than 1,400 people and is present in seven countries: Spain, Portugal, Italy, Brazil, Mexico, the United States and China. It declares as its mission "to drive the Energy Transition, acting on the axes of the same: decarbonization, electrification and digitalization".
According to its corporate profile, Cavycar presents itself as a "company born 30 years ago as a supply to small industry and industrial workshop that over the years, experience with our customers and sustained growth, has been orienting its activity". Today, Cavycar focuses its business on an "integral supply to the customer, of products necessary for production and assembly lines, working with a wide variety of product families". It works for the electrical, wind power, electronics, automotive, machine tool, white line and railway sectors.