Denmark’s AP Moller Holding, the parent company of shipping giant AP Moller-Maersk, has taken over compatriot KK Wind Solutions, which designs control systems for wind turbines.
The acquisition, the value of which was not disclosed, was made as “a step into renewables with an aim of accelerating the industrialisation of wind and leading the electrification of society,” AP Moller Holding said in a statement.
“KK Wind Solutions has an impressive history and holds a strong track record as a preferred supplier of electro-mechanical systems to the world’s leading wind turbine manufacturers,” said AP Moller Holding chief investment officer Jan T Nielsen.
“As the wind industry gains momentum globally, KK Wind Solutions must further develop its global footprint. With [our group’s] global mindset, network and expertise, we believe we can be a good partner and an engaged owner to support [them] on this exciting journey.”
KK Wind Solutions CEO Chlinton Arendahl Nielsen stated: AP Moller Holding brings in very strong capabilities and financial strength to accelerate our strategy towards 2025, allowing us to expand our system solutions across technology, supply chain and service.”
The AP Moller Group, a family-owned company founded in 1904, reported a 2018 revenue of $40bn with consolidated assets of $62bn.