Tombstone

Saxenhammer & Co. advises Kübler on the sale of EUROS to TPI Composites Inc.

Saxenhammer & Co. has advised Kübler on the sale of EUROS to TPI Composites Inc. Following the insolvency of Senvion, Saxenhammer & Co. run an international M&A process to explore options for the former Senvion SA subsidiary.

Euros Entwicklungsgesellschaft für Windkraftanlagen GmbH designs rotor blades for onshore and offshore applications worldwide. These were then manufactured within the Senvion Group and used in projects. In the course of the Senvion insolvency filing, the company also had to file for insolvency at the beginning of May. The insolvency proceedings were initially conducted under its own administration. Regular insolvency proceedings were opened at the beginning of July 2019.

TPI president William Siwek said: “TPI is pleased to announce the addition of the experienced and skilled engineering team at Euros. The Euros transaction helps strengthen our technical capabilities in support of our global operations and growth.”

TPI chief operating officer Ramesh Gopalakrishnan said: “The experience and skills of this engineering team will enable us to offer complete blade solutions. The technical know-how in blade engineering and mold design can now be applied on a broader scale.”

TPI Composites Inc.

acquires

EUROS

The main Dealmakers

Christian A. Saxenhammer
Hauke Helling
Carl Kolloss

Other professionals who worked on the transaction include:

  • Sebatian Laboga (insolvency monitor), Tillman de Vries and Michael Bohnhoff of KÜBLER, Berlin
  • Andreas Lehmann and Lutz Hoheisel of Squire Pattens Boggs, Frankfurt, as advisor to the buyer
  • Steffen Schneider and Georg Hüllen of BBL Bernsau Brockdorff & Partner, Berlin, as advisors to the self-administration