Triton signs agreement to acquire FairWind
Stockholm (Sweden) / Vejle (Denmark) June 8th 2021 – The Smaller Mid-Cap Fund II (“TSM II”) advised by Triton ("Triton") has signed an agreement to acquire Fairwind A/S (“FairWind”), a global leader within wind turbine installation and service. Triton will acquire a majority stake of the company and invest alongside the current management and key employees. The terms of the transaction are not disclosed.
“We want to support the management and employees of FairWind by investing in and supporting the continued growth and development of the company. We look forward to working together with the management team to strengthen the company’s position among its customers and across regions”, said Peder Prahl, Director of the General Partner for the Triton funds.
Founded in 2008 and headquartered in Vejle, Denmark FairWind is a provider of one-stop solutions for the installation and service of onshore and offshore wind turbines. In 2020 FairWind installed over 4 GW in onshore wind turbines and performed 450,000 service hours. The company operates in over 40 markets with major offices in Denmark, Poland, the United States, Spain and Ukraine as well as recently establishing operations in Taiwan and Australia.
“FairWind has a very strong financial track record and a history of consistent growth, operating in a market with an attractive outlook both in installation and service, underpinned by ESG relevance. We see tangible opportunities for further growth both through geographical expansion and by entering into adjacent growth niches as well as supporting the company’s organizational and digital development ”, says Henrik Tholander, Investment Advisory Professional, Triton.
"2020 was FairWind’s biggest year in terms of volume and scale and as we are eager to continue the growth and further expand our global footprint, we are very pleased to join the Triton family. With the increased financial strength under the new ownership, FairWind will be positioned to strengthen our offering and support towards our customers. In addition, FairWind also see this as an opportunity to expand our services. The management team and I are looking very much forward to the partnership”,says John Funch CEO, FairWind.
FairWind is a leading provider of one-stop solutions for the installation and service of onshore and offshore wind turbines throughout the world. The company has worked in over 40 countries and cooperates with more than 1,300 technicians to manage our customers’ projects globally.
For further information: www.fairwind.dk
Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial & technology, services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe. Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 48 companies currently in Triton's portfolio have combined sales of around €17.7 billion and employ around some 102,000 employees.
For further information: www.triton-partners.com