UK - LCA increases Proven stake

Proven Energy supplies a range of 2.5kW, 6kW and 15kW wind turbines in over 30 countries worldwide and holds a market leading position in the UK, where orders having increased five-fold during 2008. LCA originally invested in the business in 2006, since which point it has enjoyed annualised sales growth averaging over 50%.

LCA previously announced that the company had appointed a preferred bidder for the acquisition of a majority stake in the company, though due to the significant changes in the external economic environment these negotiations broke down. The new capital will allow Proven to invest in tooling and further improve efficiencies in manufacturing.

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• Topics
• Expansion
• UK / Ireland