Spain's Amper to take control of three contractors in renewables sector

Wind farm. Author: A W.

February 3 (Renewables Now) - Spanish engineering group Amper SA (BME:AMP) on Monday announced it had signed pre-agreements for the acquisition of majority stakes in three companies engaged in the renewables sector.

Amper said it had initiated due diligence procedures and intends to pay EUR 4 million (USD 4.4m) for the controlling stakes in Spanish companies Elinsa SL and Calsomatu SL, as well as in Romania’s Terralwind SL.

The prospective buyer is after a 51% stake in Elinsa, which makes switchboards and electronic equipment for the naval sector and renewable energy plants. According to Elinsa's references, the company has carried out installation and maintenance work at several wind and solar parks in Spain and abroad.

Amper is also set to acquire a 74.99% stake in Calsomatu, another Spanish navy contractor and also a supplier of components for the offshore wind industry.

Amper's pre-agreement with Terralwind concerns the potential acquisition of a 51.2% stake in the Romanian company. Unlike the Spanish targets, which are active in industries other than renewables, Terralwind is exclusively dedicated to the onshore wind business, providing installation, supervision and maintenance services for turbines in several global markets.

Amper expects the three companies to bring in revenues of EUR 25 million combined and around EUR 3 million in earnings before interest, taxes, depreciation and amortisation (EBITDA) in the fiscal year 2020.

The company said the planned share purchases form part of its strategic plan 2018-2020, adding that it sees the transactions as a step toward completing the industrial services value chain with a special focus on the renewables sector.

(EUR 1.0 = USD 1.106)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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