The acquisition comes "at a time of increasing investment in onshore and offshore wind farms"
Pinsent Masons has helped UK-headquartered GEV Wind Power to acquire Australia’s Rigcom Group.
The deal bolsters GEV Wind Power’s presence in Australia “at a time of increasing investment in onshore and offshore wind farms”, the firm said.
“The Australian government is backing the transition to renewables with an ambitious target of 82% renewable energy by 2030, with wind being a key player in reaching that target. That means there will be high demand for the maintenance of onshore and offshore wind farms, and other renewables projects, in Australia in the decades ahead,” corporate partner Joni Henry said.
According to GEV Wind Power’s press release, Rigcom’s offering of in-field rotor blade solutions strongly complements that of GEV Wind Power, which is the provision of blade repair and maintenance services to wind farm manufacturers and operators across the globe. Rigcom Group’s existing management team members will retain their leadership roles with support from the present team; chairman Gary Flowers and CEO Michael Biddle will remain at the helm.
Australia-based Henry headed up the cross-border team that advised GEV Wind Power alongside special counsel Hannah Syme. Corporate partner Edward Stead and finance and projects partner Richard Scott helped to lead the team from the UK branch.
