Woodstock, Minn.-based Juhl Wind Inc., a developer of community wind power projects, has completed its acquisition of Next Generation Power Systems (NextGen) – a company that specializes in community-scale wind power and solar systems. The acquisition of NextGen brings smaller wind turbine and solar expertise to Juhl Wind to enhance and expand its existing community wind power product and service offerings.
‘The acquisition of Next Generation Power Systems is a perfect fit for Juhl Wind,’ says Dan Juhl, CEO of Juhl Wind. ‘NextGen extends our area of expertise into smaller-scale community wind and solar projects – which is an area practically untouched by the wind development industry and an area in which we continue to pick up business.’
Juhl Wind acquired NextGen with 92,143 shares of unregistered Juhl Wind common stock, valued at $3.50 per share. The transaction also included Juhl Wind's purchase of a commercial building in Pipestone, Minn., from a related company, Next Generation Power Properties, for a purchase price of $144,000, payable by delivery of an aggregate of 41,070 unregistered common shares in Juhl Wind allocated among certain selling shareholders.
SOURCE: Juhl Wind Inc.