Grupo Daniel Alonso, owner of 68% of Windar, and Siemens Gamesa, which owns the remaining 32%, have reached an agreement to sell the company to Bridgepoint.
Orlando Alonso will continue as President and CEO of Windar, and will retain an indirect minority stake in the company.
The acquisition of Windar, a leading global manufacturer of wind turbine towers and substructures for the offshore wind industry, by Bridgepoint will foster the growth of the company.
“The sale of Siemens Gamesa’s stake in Windar is a natural decision for us, as part of our strategy to focus on our core business: wind turbine design, manufacturing including blades, installation and maintenance,” said Jochen Eickholt, Siemens Gamesa’s CEO.
The closing of the transaction is expected to take place before year end. Final transaction closing is subject to customary regulatory approvals.