Private-equity player Centerbridge Partners has completed its acquisition of Hamburg, Germany-based turbine manufacturer Senvion.
According to Senvion, all of the necessary administrative, legal and financial preparations for the transfer of ownership are now completed, and the relevant antitrust authorities have approved the deal.
On Jan. 22, Senvion was sold to Centerbridge by Suzlon in an all-cash transaction worth more than $1.2 billion.
Senvion, which will remain headquartered in Hamburg, has also put in place a new EUR 950 million guarantee and credit facility from a consortium of 15 international banks and credit insurances.
The company notes that the new credit facility is EUR100 million larger than the company's previous agreement – in order to support further growth under the new owner.
‘With its leading product portfolio, market position and by leveraging Centerbridge's strong network, Senvion is now very well placed to benefit from the continued shift towards renewable energy and to continue our course of profitable growth,’ says Andreas Nauen, CEO of Senvion. ‘We will continue to expand our onshore market share, both in our top five markets of Germany, the U.K., Australia, Canada and France and in other target markets, and will also cement our strong position in the offshore market.’