Allianz Capital Partners GmbH, the private equity company of Allianz AG, will acquire Hansen Transmissions from Invensys plc, London.
Hansen Transmissions, based at Edegem in Belgium, was established in 1923 and is today one of the leading manufacturers of gearboxes for wind turbines. The company also produces gearboxes and drive units for industrial use.
Significant growth is anticipated in the wind power industry in the coming years. Until recently, growth in this segment emanated primarily from the German market, but wind energy is now increasing in significance around the world, especially in Spain, Great Britain, the USA and a number of Asian countries.
Allianz Capital Partners to acquire Hansen Transmissions
Allianz Capital Partners will acquire Hansen Transmissions, a Belgian manufacturers of gearboxes for wind turbines, from Invensys plc.
Support the growth strategy
Hansen Transmissions has subsidiary companies for sales and service in Great Britain, the USA, South Africa and Australia.
During the course of the fiscal year which ended March 31, 2004, Hansen Transmissions achieved sales amounting to 127 million euros. The company employs more than 900 people worldwide. Subject to regulatory approval, the transaction is scheduled for completion by the end of July.
As a financial investor, Allianz Capital Partners will support the growth strategy of Hansen Transmissions. "We're very pleased that we've been able to enter into a partnership with Hansen Transmissions which allows the company to achieve its medium-term strategic goals," commented Thomas Pütter, spokesman for the executive management of Allianz Private Equity Holding.
During the course of the fiscal year which ended March 31, 2004, Hansen Transmissions achieved sales amounting to 127 million euros. The company employs more than 900 people worldwide. Subject to regulatory approval, the transaction is scheduled for completion by the end of July.
As a financial investor, Allianz Capital Partners will support the growth strategy of Hansen Transmissions. "We're very pleased that we've been able to enter into a partnership with Hansen Transmissions which allows the company to achieve its medium-term strategic goals," commented Thomas Pütter, spokesman for the executive management of Allianz Private Equity Holding.
About Allianz Capital Partners
Allianz Capital Partners GmbH (ACP) was founded in 1998. The company is responsible for direct investments in the area of private equity within the Allianz Group.
As an independent financial investor, ACP focuses in particular on the provision of individual solutions for financial issues relating to unlisted companies, company shareholders, and management teams for purposes of financing growth, acquisition finance and ownership restructuring. ACP provides customized financing instruments from mezzanine to shareholders' equity.
As an independent financial investor, ACP focuses in particular on the provision of individual solutions for financial issues relating to unlisted companies, company shareholders, and management teams for purposes of financing growth, acquisition finance and ownership restructuring. ACP provides customized financing instruments from mezzanine to shareholders' equity.
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