The corporate team at leading Scottish law firm Harper Macleod has advised on the sale of wind turbine installation business Windhoist Group to European fund manager STAR Capital for an undisclosed consideration.
Windhoist, an owner-managed business which is headquartered in Scotland but has subsidiaries in Morocco, Ireland, South Africa and Australia, as well as premises in Germany, has erected more than 6000 turbines across the world, with a capacity of more than 11GW.
The company is a trusted supplier to leading wind turbine manufacturers and has an established track record in onshore wind while its recent projects include the portside construction of 84 offshore wind towers for the 588MW Beatrice offshore wind project, the first to utilise this approach in the UK.
The transaction is one of the most significant corporate deals of the year in Scotland, with Harper Macleod's team advising the sellers on the restructuring and subsequent sale of the group. The deal was led by Senior Associates Craig Ramsay and Paul Macdonald, alongside Partner and head of Corporate Donald Munro.
Munro said: "This was a complex deal involving multiple jurisdictions and we are delighted to bring it to a successful conclusion for our client and indeed all parties involved in it. Our team has particular experience in advising owner-managed businesses, especially where owners are looking to exit, while the renewable energy sector is one of Harper Macleod's key markets so we were able to bring that know-how to bear in this deal."
STAR Managing Partner Uniti Bhalla said: “We are delighted to have acquired Windhoist, which we believe is an excellent platform with a long history and a reputation for high quality and technical and commercial innovation.
“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.”