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Vestas has agreed to acquire Availon with approximately 400 employees and a total capacity of more than 2.6GW currently under service. Availon’s core market is Germany, while the company also has service activities in Austria, Italy, Portugal, Spain, Poland and the USA.

The acquisition price for Availon is € 88.0 million on a debt and cash free basis. The consideration will be paid in cash from readily available sources. For 2015 Availon is on a stand-alone basis expected to report consolidated revenues of € 59.8 million, normalised EBITDA of € 5.2 million and total assets of approximately € 33.3 million. Availon will be included in Vestas’ financials from the time of closing.The transaction is subject to customary closing conditions, including approval from relevant competition authorities. Closing is expected to take place in the first quarter of 2016.

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