August 23 (Renewables Now) - UK-based private equity firm STAR Capital Partnership LLP said today it has taken over wind turbine installation contractor Windhoist Holdings for an undisclosed sum.
The acquired business is a Scotland-based firm with Irish roots that offers heavy cranage and mechanical/electrical engineering services. To date, it has installed more than 6,000 turbines with a combined capacity of over 11 GW globally. The company has had a historical focus on onshore projects, but recently finalised the portside construction of 84 towers for the 588-MW Beatrice offshore wind farm, the statement says.
Windhoist works with all major wind turbine manufacturers, including Siemens Gamesa, Vestas, Nordex, Enercon and General Electric (GE). In addition to Scotland and Ireland, the company also has offices in Australia, South Africa and Morocco.
“Under STAR’s ownership, Windhoist will continue to demonstrate its commitment to the sector and will invest in expanding into adjacent service areas and markets, alongside its customers, both on- and off-shore,” said Uniti Bhalla, managing partner of STAR.
Following the acquisition, Windhoist will have a new managing director, namely Tim Adams, as the current one -- a second-generation family founder -- will step down to pursue other opportunities.