German drive specialist Flender has reached an agreement to acquire Finnish wind turbine gearbox manufacturer Moventas from investor N4 partners.
The planned acquisition marks the next step in Flender’s growth strategy after progressing into independence last year. Integrating Moventas’ engineering and service capabilities will further foster Flender’s wind drives business under the Winergy product brand.
The 22 GW of Moventas installed base, service know-how and multi-brand capabilities will be the lever for further growth in Winergy service business resulting in a comprehensive one-stop service solution for wind customers. The Moventas global production and service network adds an additional three GW wind gearbox assembly capacities, next to extensive capabilities in field services as well as gear manufacturing.
“Moventas is a well-known brand in the wind industry,” says Flender Group CEO Andreas Evertz. “We are very fond to have their expertise and capacities under our roof now. It lets us further expand our wide product portfolio for the growing wind market to support the important energy transition. With gearboxes, generators, couplings, integrated drivetrains and a comprehensive multi-brand service portfolio we are the unique partner for the wind market.”
“We look forward to welcoming the Moventas colleagues to our Winergy team,” states Aarnout Kant, president of wind gears at Flender. “Together, we continue to provide the wind market with cutting-edge technologies and services. Our partners will profit from increased capacity, availability, and further reduced reaction times.”
The acquisition is still subject to approval by authorities and is expected to close in summer 2022. It would then include the full scope of Moventas Gears Oy business with all global production and service facilities.
“Moventas has been a pioneer in the wind industry, with its relentless focus on creating a culture of technological leadership and service excellence. Today, we are honored to join Flender and can’t wait to create more value for our customers together,” comments Moventas Group CEO Pedro Figueiras.