(Reuters) – Macquarie’s asset management division will buy Denmark-based offshore wind operations and maintenance business ZITON A/S, the Australian financial services company said on Tuesday.
The company will buy ZITON through its European Infrastructure Fund 7 from funds advised by investment credit firm Permira Credit and other existing shareholders, it said.
Europe’s wind energy market is estimated to more than double by 2030, according to Macquarie, with the acquisition expected to assist the expansion of ZITON’s fleet and services.
ZITON, founded in 2007, provides offshore wind operations and maintenance services in Europe, including providing lifting equipment and technical specialists.
The deal is expected to be complete by December 2024 or the first quarter of 2025, subject to regulatory approvals, ZITON said in a separate statement on Sept. 27.
No financial details of the deal were disclosed.
(Reporting by Adwitiya Srivastava in Bengaluru; Editing by Janane Venkatraman)