Paksoy, working alongside DLA Piper, has advised Gurit on its acquisition of all the shares of JSB Group, a company designing, developing, and manufacturing customer-specific core kits for wind turbine blades. JSB was represented by Denmark's Accura law firm.
The companies of Gurit Holding AG specialize in the development and manufacture of advanced composite materials, related technologies, and select finished parts and components.
JSB has operations in Denmark, Spain, Turkey, the US, and China, and is planning to build a new facility in Mexico. The group, which is headquartered in Denmark, is held by the VC VIII JSB Holding ApS private equity fund, majority owned by Verdane Capital VIII K/S, with individual board and management members holding the remaining shares.
According to Gurit, “the goal of this acquisition is to join value chain steps in the supply of the global wind energy industry and thus reduce cost and increase supply chain effectiveness in the respective regions for regional use. This will ultimately improve cost competitiveness for customers further, supporting them in the challenge of achieving wind energy competitiveness compared to non-renewable power sources.”
In the same press release, commenting on the acquisition agreement, JSB Group CEO Frank Virenfeldt Nielsen stated: “To support consolidation and globalization in the wind industry, scale and technology are key to add value. Combining JSB`s and Gurit`s capabilities into a dedicated product and supply chain powerhouse for the global wind blade industry will drive down cost of energy for our customers.”
Gurit CEO Rudolf Hadorn added: “This is another milestone in our corporate strategy to significantly enhance the Gurit wind energy business globally towards market leading positions in the areas in which we operate. Adding JSB Group’s offering and expertise to our existing range clearly takes us a big step further in supporting our wind energy customers with smart, tailored and regionally accessible solutions.”
The Paksoy team included Partner Elvan Aziz, Senior Associate Serdar Ildırar, and Associate Ece Sarıca.
DLA Piper’s Copenhagen-based team included Partners Karsten Pedersen, Michael Klocker, and Line Marie Pedersen, Lawyer Jacob Sorensen, and Associate Sara Schjorring, working in collaboration with DLA Piper lawyers in Spain, the United States, and China.
The Accura team consisted of Partner Thomas Weincke, Attorney-at-Law Alan Pai, and Assistant Attorney Camilla Martekilde worked on the deal.