EnergyWatch

Acquired Danish wind trio rewards owner with big profit

Two of the three supply companies which were acquired last year by Norwegian equity fund Verdane have increased earnings over the past year by 50 percent, while the third company also booked a record profit.

Supplier Jupiter, which has folded its biggest competitor into its own business since being acquired last year, is currently expanding production in Poland. | Photo: Jupiter Bach

Norwegian equity fund Verdane Capital seems to made a great deal when it went shopping in Denmark last year and acquired the three companies Jupiter Group, Polytech, and JSB Group. The three acquired companies, all of which are suppliers to the wind turbine industry, are showing major progress in their financial reports for last year.

Altogether, the three firms booked a net result in 2016 of around DKK 102 million (EUR 13.7 million). This constitutes growth of more than one third from 2015, where the companies booked a combined profit of almost DKK 76 million. At the time, the companies were mostly owned by Pentaco Partners, while the latest results are also the best ever for all three companies.

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