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Doughty Hanson, the European private equity firm, has announced that they have agreed to sell their stakes in LM Wind Power to GE for an enterprise value of €1.5 billion. The transaction is expected to close in the first half of 2017, subject to regulatory approvals.

LM Wind Power has a global manufacturing footprint of 13 sites in eight countries across four continents and continues to expand. For the first half of 2016, the Company reported sales of €491 million and EBITDA of €87 million which represented year-on-year growth of 40% and 81% respectively. Doughty Hanson originally acquired the Company from its founder in May 2001.

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