Kempen, 7. June 2022 – ConverterTec sells its power conversion R&D department to KK Wind Solutions, a leading global provider of electro-mechanical solutions for the wind industry.
The carve-out transaction includes ConverterTecs converter development team, intellectual property rights, and testing equipment. Through the acquisition, KK Wind Solutions will gain an experienced engineering team, strengthening its offering in power conversion related to wind and adjacent markets such as Power-to-X industry within hydrogen and battery storage.
KK Wind Solutions, headquartered in Ikast, Denmark, was founded in 1981 and is a leading global provider of electro-mechanical solutions to the wind industry. The company has developed the world´s first electronic control system for wind turbines and offers its customers a wide range of products and services. More than 1.600 employees are employed by KK Wind Solutions, which was acquired by A.P. Moller Holding in 2019.
“We are convinced that the expertise of our ConverterTec R&D team will have a good home at KK Wind Solutions and further empower their growth strategy. For ConverterTec this transition will enable a stronger focus on our build-to-print, build-to-spec and converter aftermarket business where we will leverage our existing strength and renowned market position”, states Dr. Kieran May, Managing Director of ConverterTec.
After a swift integration of ConverterTec´s R&D capabilities, KK Wind Solutions can leverage the development capabilities combined with its factory set up in Denmark, Poland, Taiwan and India to better serve global customers in large power conversion projects.
Both parties have agreed not to disclose the price or other terms of acquisition.