TowerBrook Capital Partners has made a majority equity investment in Canada-based O&M service provider LiftWerx Holdings.
LiftWerx serves the North America onshore wind industry, specializing in the replacement of major turbine components. The company has also developed up-tower crane technology used for servicing turbines.
It is the third investment for TowerBrook Delta, TowerBrook Capital’s impact strategy launched last year.
“We are thrilled to partner with the founders and leadership team of LiftWerx to support the company through its next phase of growth,” says Alex Nisichenko, managing director at TowerBrook.
“Thanks to its innovative and proprietary uptower crane technology and industry-leading service teams, LiftWerx has become a dominant force among wind O&M independent service providers in less than a decade, working with a loyal and growing customer base that includes some of the largest blue-chip original equipment manufacturers and owner-operators. LiftWerx provides a solution that is not only faster and cheaper than the existing alternatives but is also safer and more environmentally friendly, helping to drive the energy transition.”
