PE Deals

FSN Capital and Verdane to invest €135m in Polytech

Polytech develops, designs and manufactures systems for protecting and enhancing wind turbines.

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  • Verdane remains a majority shareholder
  • FSN Capital will become a significant minority shareholder
  • Polytech has offices in Denmark, Germany, China and Mexico

FSN Capital and Verdane will invest around €135 million in Polytech, a global firm providing rotor-blade technical products for wind turbines, the firms announced on Thursday. The transaction is subject to relevant regulatory approval.

Polytech, headquartered in Denmark, develops, designs and manufactures advanced systems for protecting and enhancing wind turbines. It has offices in Germany, China, and Mexico.

Existing investor Verdane will remain a majority shareholder, and FSN Capital will become a significant minority shareholder. The investment aims to solidify Polytech’s global position.

“The green transition is one of the most promising investment themes today and continues to be a focus across the FSN funds,” said Kasper Sørensen, principal at FSN Capital Partners. “As the leading global specialist in wind turbine blade protection and enhancements, Polytech is perfectly positioned to support the acceleration of the energy transition over the coming years.”

“Wind energy will play a key part of the increasingly urgent transition to renewable energy globally, and Polytech’s solutions help bring down the cost of that energy,” said Bjarne Kveim Lie, co-founder and managing partner at Verdane. “Verdane will continue to back the leaders in the green energy transition and are proud to continue helping build future proof businesses in the wind industry ecosystem. FSN and Verdane have successfully partnered in the past, and we are pleased to continue our collaboration.”

FSN Capital, is an Oslo-headquartered private equity firm with €4 billion assets under management. On the add-on side, in December, FSN Capital signed an agreement to acquire a majority stake in ilionx, a Dutch IT services provider focused on customers in regulated industries and the public sector.

Verdane, a growth equity investment firm, has offices in Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm. The firm has over €4.5 billion in commitments.