EnergyWatch

Danish wind supplier sold for more than DKK 100 million

Consolidation in the Danish wind turbine industry continues with the takeover of a composite manufacturer with facilities in both the US and Denmark.

Listed Danish plastics company SP Group has acquired MM Composite. The total price for the Danish composite manufacturer, which primarily services the wind industry, totals DKK 105 million including debt takeover, ahead to 2020, assuming growth targets are met.  The minimum price is DKK 61 million, informs SP Group in a press release.

"The acquisition of MM Composite is accelerating MP Group's growth. We are buying a high-functioning and high-earning company with excellent management and talented staff and a clear idea that we can synergize our experiences within development, production and sales to strengthen competitiveness and create a yet strong international position for the benefit of our customers," says Frank Gad, CEO of SP Group.

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