Takkion Holdings LLC, a portfolio company of funds managed by affiliates of Apollo Global Management Inc., has acquired Sioux Falls, S.D.-based Renew Energy Inc. and its subsidiaries (collectively, RENEW).
RENEW, a provider of operations and maintenance (O&M) solutions serving the renewable energy market, is known for providing technical services support to the wind power industry. RENEW has grown rapidly – developing an international customer base of OEMs, developers and asset owners over the past decade. RENEW operates locations throughout the U.S. to support the growing installed base of wind energy assets. As part of Takkion, the RENEW brands will remain intact and the company’s management team will continue to lead the O&M business.
The RENEW business will complement Takkion’s logistics and transportation services companies: Transportation Partners and Logistics and Global Specialized Services, both led by Jim Orr, president and COO. With the addition of RENEW, the company says it can provide the market with a comprehensive solution for managing the complex logistics, supply chain, transportation management, operations and maintenance of wind and solar energy infrastructure.
“The combined businesses and leadership team enables us to offer experience and expertise to the renewable energy services market and to continue to expand our premier services,” says Orr, who will lead the wind segment, including RENEW.
Vinson & Elkins LLP acted as legal counsel to Takkion in the transaction. Cascadia Capital LLC acted as financial advisor and Frederickson and Byron P.A. acted as legal counsel to RENEW.