Awilco affiliate Integrated Wind Solutions (IWS) has acquired 30% ownership in Denmark-based offshore wind operations and asset management advisory PEAK Wind.
The Oslo-listed IWS bought the stake from the three co-founders of the company for DKK90m ($14.3m). The co-founders will retain 70% ownership and IWS will be represented by two out of five seats on the board of directors, while management and the organisation remain unchanged.
IWS has an option to further increase its ownership to 49% within three years at a pre-agreed fixed price from this initial transaction. The closing of the transaction is expected next month.
“We found this opportunity perfect to further accelerate our growth prospects in line with our strategy of offering a broad range of services to the renewable wind industry,” said Lars-Henrik Røren, CEO of Integrated Wind Solutions.
Earlier in July, IWS bought Danish offshore wind specialist advisory Green Ducklings.