Force Bidco A/S (“FairWind”), a leading global provider of one-stop solutions for the installation and service of onshore and offshore wind turbines will acquire the subsidiary companies of Wind1000 Corporate Holding S.L (“Wind1000”), a Spanish based regional leader in installation of onshore wind solutions, primarily in Southern Europe and South America.
FairWind has signed an agreement to acquire Wind1000, a regional leader within installation of onshore wind turbines. Founded in 2010, Wind1000 has expanded their activities across Southern Europe and South America, which aligns with FairWind’s global expansion strategy, providing foothold and synergies for both companies for further growth and expansion across the installation and service market in Europe and South America.
“The renewable sector, and especially wind, continues to show a significant growth potential across the globe. Wind1000 will be a key enabler in our strategic focus on expanding and diversifying our offerings across their regions. Wind1000 have showed impressive growth and performance to position themselves not only in Europe, but also South America. The acquisition supports the synergies of our global structure and matured processes and will accelerate Wind1000’s growth opportunities. Furthermore, we see a great potential in increasing our Service offering through the scope of Wind1000, making our solutions available to a wider variety of customers across the globe,“ explains Stewart Mitchell, Chief Executive Officer at FairWind.
By utilizing the regional strength of Wind1000, combined with the structured approach and support capabilities of FairWind, the combined business will become more competitive and better equipped to meet the needs of customers across Southern Europe and South America.
Consistency Remains in Wind1000
Operating under the current Wind1000 brand, the company’s leadership will remain with the company to lead the expansion and become shareholders in the new group. “Uniting with FairWind is a pivotal moment for Wind1000, unlocking growth opportunities in Southern Europe and South America. We are excited about harnessing FairWind’s global expertise to enhance our offerings, particularly in Crane activity as well as in service- and maintenance solutions. This acquisition positions us to expand our business while preserving our strong history and DNA, ensuring we meet the dynamic needs of the renewable energy landscape,” explains Jesús García Mallo, Corporate General Manager at Wind1000.
The acquisition of Wind1000 is set to close in February 2024, growing the total workforce of the group to more than 2,000 people and will bring the total revenue of the combined group to close to DKK 1.5bn. The acquisition is financed through a combination of new equity, bank credit and a smaller bond tap issue.
This is information that Force BidCo A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on December 19, 2023.
