Clyde Blowers Buys Wind Turbine Co. Moventas For $135M

Law360, New York (November 15, 2011, 3:22 PM EST) -- U.K.-based private equity investor Clyde Blowers Capital will buy Finnish wind turbine and industrial gear manufacturers Moventas Wind Ltd. and Moventas Santasalo Ltd., whose parent company filed for bankruptcy earlier this year, for €100 million ($135.3 million), the companies said Tuesday.

The Moventas companies have been on the market for a new owner since June, when parent holding company Moventas Ltd. filed for bankruptcy and its operating subsidiaries applied for corporate restructuring.

Following the acquisition, Clyde Bowers will be one of the largest gear manufacturing groups...
To view the full article, register now.