Doughty Hanson to buy wind turbine brakes maker

London-based private equity firm Doughty Hanson announced that it plans to acquire Denmark's Svendborg Brakes, a global provider of industrial brake solutions to the wind, mining, crane and offshore oil industries, for €460 million.

Doughty Hanson said Svendborg currently supplies many of the world's largest wind turbine manufacturers in Europe, the U.S. and Asia, where it established a new facility in China in 2007.

The private equity group said Svendborg has operations in more than 15 countries.

"Wind energy is one of the fastest developing sectors in the alternative energy space and is expected to see unprecedented growth globally in the coming years," said Jan Amethier, a senior principal who heads Doughty Hanson's activities in the Nordic region.

"In line with this, Svendborg Brakes has achieved a phenomenal increase in revenues in the past few years, more than doubling its annual turnover between 2005 and 2007. We believe its position and reputation for supplying high-quality products leaves it well placed to take advantage of continued growth in the renewable energy and other sectors."

Svendborg Brakes is Doughty Hanson's second private equity investment in the renewable energy sector.

In 2001, Doughty Hanson acquired Denmark's LM Glasfiber, a supplier of blades for wind turbines.

LM Glasfiber has production and service facilities in Denmark, Germany, Spain, India, China, Canada and the U.S. Doughty Hanson said LM Glasfiber has a global market share of approximately 30 percent.