EQT Expansion Capital II Invests in Danish Skykon

EQT Expansion Capital II, a €475m fund providing capital for privately owned mid-market companies, has agreed to invest in Skykon A/S, an international supplier to the wind energy industry based in Arhus, Denmark, with a large three digit million kroner investment.

Skykon will use the new funds to invest in production facilities and other development. EQT Expansion Capital II will take an active role together with the existing owners in further developing Skykon.

This deal is EQT Expansion Capital II’s first investment in Denmark. It expects that Skykon will grow its revenues and earnings substantially over the coming years. EQT Expansion Capital II has an investment horizon of 4-6 years, but can stay on even longer as an investor.
The new board of directors will include members of EQT’s network of industrialists and senior advisors such as Kaj Thorén as a chairman and William E. Hoover Jr. as a board member. 

Commenting on the deal, the CEO of Skykon, Jesper Øhlenschlæger, said: “We are very happy to welcome EQT Expansion Capital II as investor in Skykon. The combination of financial resources and the experience from developing companies on an international level will be a tremendous help in realizing our ambitious growth plans”.

Skykon serves the wind energy market as a supplier to wind turbine manufactures and energy companies through two business platforms: Tower Solutions and Blade Components, which manufactures blade tooling and composite components for blades.

The transaction is subject to relevant competition authorities’ approvals and is expected to close during November 2009.

EQT Expansion Capital II is part of EQT is part of EQT, a group of private equity funds with operations in Northern Europe, Central and Eastern Europe, USA and Asia which manages funds active within buy-outs, growth financing and infrastructure. 

27/10/2009