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Merger with Jupiter completed / World's leading supplier of components for wind turbines created

Merger with Jupiter completed / World's leading supplier of components for wind turbines createdDanish companies Bach Composite Industry (Hurup; and Jupiter Group (K°ge; have completed their merger, creating the world?s largest supplier of nacelles (housings) and spinner covers for wind turbines.

The combined company ? Jupiter Bach ? is headquartered in K°ge, just outside Copenhagen, with production sites in Denmark, Spain, Lithuania, Poland, USA and China, and a total of more than 1,200 employees

Verdane Capital Advisors (Oslo / Norway;, which acquired Jupiter in May 2016, lead the deal and remains the majority owner of Jupiter Bach, providing the resources and capabilities for the merged group to expand its composites expertise in the wind industry.

Jupiter?s former CEO, Jens Kristensen, now leads Jupiter Bach while Bach Composite?s CEO, Geert Winther Skovsgaard, resigned but retains a minority stake in the new company. ?As the wind industry has evolved to become a mainstream energy source, it is paramount that the entire value chain focuses on achieving a low LCoE [levelised cost of electricity] through innovation and scale. By combining our resources, Jupiter Bach is able to concentrate on developing the efficiencies and advancements necessary to achieve this and drive the industry forward,? Kristensen commented.

Financial details of the transaction were not disclosed.16.06.2017 [237091-0]

» Publication Date: 16/06/2017

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