- Published: 07 December 2015 07 December 2015
Vestas has acquired UpWind Solutions and its subsidiaries with headquarters in San Diego, California, USA. With about 310 employees, UpWind Solutions currently services wind power plants in nine US states with a total capacity of more than 3GW.
The wind power plants under service represent a diverse customer base and include turbines from a number of manufacturers. UpWind Solutions also supplies parts for most major turbine technologies, performs blade inspections, and offers various performance upgrades. The acquisition price for UpWind Solutions is US$ 60 million (approximately € 55 million) on a debt and cash free basis. On a standalone basis excluding synergies, UpWind Solutions is expecting for 2015 to report consolidated revenues of US$ 55m (approximately € 50 million), an EBITDA of US$ 3.4 million (approximately € 3.1 million), and total assets of approximately US$ 20 million (approximately € 18 million).