GP-backed PolyTech bolts-on Fos4x

According to Crunchbase, the company has raised more than €10.5m in funding from investors including Bayern Kapital, Equinor Energy Ventures Fund, Falk Strascheg Holding, High-Tech Gründerfonds and UVC Partners. The management team and various business angels were also shareholders in the company.

PolyTech, which has been owned by Verdane since 2016, specialises in technology that improves the performance and protection of wind turbine blades. The acquisition strengthens it's position as a blade technology specialist.

It currently employs 700 staff across its operations in Denmark, China, Mexico and the US, and following the deal, will have 800 staff.

It is unclear whether the GP is backing the deal with fresh equity.

Company
Founded in 2010 and headquartered in Munich, Fos4x is a producer of fibre-optic sensor technology for wind turbines. It employs 100 staff in Germany and China.

People
Fos4x – Lars Hoffman (CEO).

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