Nordic Capital Fund VII (“Nordic Capital”) today announced the acquisition of Bladt Industries A/S (“Bladt” or “the Company”) from Maj Invest Equity, Industri Udvikling and Bladt management.
Bladt, headquartered in Aalborg, Denmark, is an international steel contractor specializing in large-scale and highly complex steel structures. The Company serves three distinct markets, providing steel solutions for the wind and renewable energy sector, the oil and gas industry, and infrastructural projects. Its main focus is on foundations and substations for the fast-growing offshore wind energy market.
“Bladt has in recent years successfully established itself as a leading foundation supplier to the emerging market for foundations to the offshore wind energy sector. We look forward to supporting the Company in growing its business in new geographies and consolidating its European market position even further”, commented Lars Terney, Partner, NC Advisory A/S, advisor to the Nordic Capital funds .
“I am pleased to have Nordic Capital as a new shareholder of Bladt. We are confident that Nordic Capital has the resources to support us in our continued focus to meet ever increasing market and customer demands, particularly within the offshore wind energy industry sector, which is expected to grow significantly in the coming years” , said Peter Rindebæk, CEO of Bladt.
“As the outgoing Chairman, I am delighted and convinced that Bladt’s new owners will take good care of the Company and support the continued growth and development of the Company to the benefit of all stakeholders – the employees, local community and future shareholders” , said Kaj Taidal, outgoing Chairman of Bladt.
The parties have agreed not to disclose the terms of the transaction, except that the the acquisition is conditional on Competition Authorities’ approval.
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Offshore WIND staff, March 29, 2012; Image: bladt