CS Wind to buy Danish offshore wind foundation maker Bladt Industries

Bladt Industries A/S, the Danish producer of offshore wind foundations, will be acquired by CS Wind Corp (KRX:112610), the South Korea-based maker of wind turbine towers.

Bladt’s current owner, Nordic Capital, today unveiled an agreement to sell the business. According to CS Wind’s announcement, the acquisition is worth KRW 26.9 billion (USD 20.6m/EUR 18.9m) and is aimed at advancing CS Wind into the global offshore wind power substructure market.

“As demand for offshore wind power is expected to grow explosively over the next 10 years or more, this acquisition will be a historic turning point for CS Wind to expand its scope from wind tower business to offshore wind power substructure business in all directions,” a CS Wind official said.

Bladt Industries, which under Nordic Capital’s ownership completed a transformation to focus on the growing offshore wind sector, expects its new owner to enhance its ability to progress this journey.

“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, according to Olof Faxander, senior partner, Nordic Capital Advisors and board member of Bladt Industries.

(KRW 100.0 = USD 0.077/EUR 0.070)

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