Doughty Hanson & Co, one of the largest independent private equity firms in Europe, announced that it is to acquire Svendborg Brakes A/S, a leading global provider of industrial brake solutions, for a total consideration of €460 million.
Headquartered in Vejstrup, Denmark, Svendborg Brakes is a leading worldwide provider of braking solutions to the wind, mining, crane and offshore oil industries. The company currently supplies many of the world’s largest wind turbine manufacturers in Europe, the US and Asia, where it established a new facility in China in 2007. The company has operations in more than 15 countries.
Jan Amethier, a Senior Principal who heads Doughty Hanson’s private equity activities in the Nordic region, said, "Wind energy is one of the fastest developing sectors in the alternative energy space and is expected to see unprecedented growth globally in the coming years. In line with this, Svendborg Brakes has achieved a phenomenal increase in revenues in the past few years, more than doubling its annual turnover between 2005 and 2007. We believe its position and reputation for supplying high-quality products leaves it well placed to take advantage of continued growth in the renewable energy and other sectors."
Svendborg Brakes is Doughty Hanson’s second private equity investment in the renewable energy sector following its 2001 acquisition of LM Glasfiber, a leading worldwide supplier of blades for wind turbines. Since it was acquired by Doughty Hanson, LM Glasfiber has grown from a regionally focused business to a global corporation with revenues in 2007 of close to €600 million and more than 6,000 employees globally.
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