German mid-market GP Capiton has invested in wind turbine maintenance firm BWTS.
Capiton aims to boost the company's growth domestically and internationally through both organic growth and acquisitions. It will also expand its service range to include rotor blade maintenance.
The deal is likely to have been completed with capital from Capiton V, a €440m fund that held a final close in 2014. Both of the founders of BWTS will stay on as managers and remain significant shareholders.
BWTS provides wind turbine maintenance to energy suppliers and wind turbine manufacturers. It is based in Germany and has carried out onshore and offshore work on 1,600 windfarms across 19 countries.
Equity – Deloitte (corporate finance, tax); BMH (legal); Willis (insurance due diligence).
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