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Lely takes over wind turbine maker Aircon.

MANews-(C)2009-2012

8 June 2012 - Dutch agricultural machinery maker Lely Holding Sarl said today it had bought German wind turbine specialist Aircon GmbH for an undisclosed sum.

The target company, with a headcount of seven, will continue its activities as Lely Aircon BV. The firm was set up in 2003 and develops and makes specialised, low noise, high energy density wind turbines. The companya[euro](tm)s product became commercially available in 2006 and since then it has installed almost 100 units around the world.

Lely said that Aircona[euro](tm)s decision to seek a strategic partner to enable the further development and distribution of its MCS certified wind turbines was prompted by the rising demand for sustainable energy.

The buyer added that the acquisition is part of its strategy to boost focus on sustainable farming by facilitating decentralised energy sourcing. Lely further said that the firma[euro](tm)s turbines are a perfect fit in an agricultural landscape. The company further said that in the coming months it will concentrate on establishing distribution strategy for these products as interest in turbines is rising, boosted by subsidies in a number of countries.Country: GermanySector: Wind PowerTarget: Aircon GmbHBuyer: Lely Holding SarlType: Corporate acquisitionStatus: Closed

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Publication:M & A Navigator
Date:Jun 8, 2012
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