Windar Renovables welcomes Bridgepoint as new majority shareholder. Founded in 2007 and headquartered in Avilés (Asturias). Windar is a global leader in the manufacture of towers for wind turbines.
Original Press Release:
May 22 -- Bridgepoint Group issued the following news releases:
Windar Renovables, a leading global manufacturer of towers and foundations for onshore and offshore wind turbines, and its shareholders, Grupo Daniel Alonso and Siemens Gamesa, have reached an agreement with Bridgepoint, who will invest through Bridgepoint Europe VII, for the sale of a majority stake in the company.
Founded in 2007 and headquartered in Avilés (Asturias), Windar Renovables operates ten manufacturing plants over five continents – seven of them located in Spain and the remaining three located in Brazil, India and Mexico.
Over its 16-year history, Windar Renovables has grown and evolved to become a global leader in the manufacture of towers for wind turbines. It is the sole player across the globe with experience manufacturing all existing types of foundations for the offshore wind industry: monopiles, jackets, transition pieces, as well as floating structures (both semi-floating and SPARs), with a solid track record of projects which includes some of the most iconic offshore windfarms in Europe and the US.
The company, owned since inception by Grupo Daniel Alonso and Siemens Gamesa, is currently experiencing outstanding momentum, supported by offshore market growth in Europe, America and Asia, as well as by strong wind project development globally.
Windar is a company firmly committed to the UN’s Sustainable Development Goals – in particular Affordable and Clean Energy and Climate Action – with a clear focus on reducing its own carbon footprint.
Orlando Alonso Villarón, Windar’s Executive Chairman and CEO, will continue to hold his position and will keep a minority stake in the company post transaction, while Siemens Gamesa will continue to be a strategic client for Windar in this next phase.
Bridgepoint, a private equity firm with extensive experience in Spain since 1992, will support Windar in this upcoming growth phase, with the aim of reinforcing Windar’s, Asturias and Spain’s positions as instrumental players in the development of renewable energies. This investment constitutes another step forward in Bridgepoint’s global commitment to the energy transition.
Orlando Alonso, Windar’s Executive Chairman and CEO, stated:
“Bridgepoint has demonstrated a deep understanding of our market and shares our team’s long-term strategic view; we are convinced that Bridgepoint is the ideal partner to support and accelerate Windar’s business plan for the coming years. We are sure that Bridgepoint will be a driving force in Windar’s expansion and in the execution of the solid project pipeline we have secured over the last few years.”
Héctor Pérez, Bridgepoint Europe Partner, added:
“Bridgepoint has followed Windar Renovables’ outstanding journey closely over the last five years and we are delighted to partner with Orlando Alonso and his exceptional team. Windar is a company that is at the forefront of renewable energy development, with a leading position in the manufacture of wind towers and foundations, and ideally positioned for the increasing demand for wind energy, both offshore and onshore. We are very pleased to support the company in its next expansion phase.”
Jochen Eickholt, CEO of Siemens Gamesa, declared:
“The sale of Siemens Gamesa’s stake in Windar is a natural decision for us, as part of our strategy to focus on our core business: wind turbine design, manufacturing, installation and maintenance. We are convinced that the entrance of Bridgepoint in the capital of Windar will enhance the growth strategy of the company. Siemens Gamesa and Windar will continue their long-lasting strategic partnership, both in onshore and offshore, with several long-term supply agreements”.
The transaction, which is expected to close during the second half of this year, is subject to regulatory approvals and other standard conditions.
Rothschild & Co, Garrigues and EY have advised Windar in the transaction, while Bridgepoint has been advised by Citi, Uría, BCG and KPMG. Siemens Gamesa was advised by Gómez-Acebo & Pombo.
[Category: Energy Equipment & Services, Renewable Electricity, M&A Activities, Partnerships and Alliances]
Source: Bridgepoint Group