Verdane exits JSB Group

The deal ends a two-year holding period for Verdane, which acquired the wind power product company via its 2013-vintage SEK 2bn Verdane Capital VIII fund.

The move is expected to support JSB’s corporate strategy by combining business activities with Gurit to deliver enhanced scale and resources for both firms.

Previous funding
Nordic GP Verdane Capital acquired a portfolio of three wind power product companies from Danish investment company Pentaco Partners in May 2016.

The portfolio consisted of JSB Group, Polytech and Jupiter Group, which all produce parts for use in the manufacture of wind turbines.

Company
Founded in 1988 and headquartered in Ringkøbing, Denmark, JSB is a supplier of core materials used in the construction of wings in the wind turbine industry. It manufactures material kits for wind-turbine blades with seven kitting operations in Denmark, Spain, Turkey, the US, China and a new facility planned to be built in Mexico.

The company employs a staff of 560 and expects to generate €105m in revenues in 2018.

People
Verdane Capital Partners – Arne Handeland (partner).
JSB Group – Frank Virenfeldt Nielsen (CEO).
Gurit – Rudolf Hadorn (CEO).

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