Dulas Ltd has acquired Scotland-based wind monitoring and equipment supplier Chillwind in order to enhance its own wind energy business.
Dulas says the strategic move will stengthen its ability to manufacture, distribute and install meteorological masts across the UK and in Europe and follows a decade of collaboration between the companies. Dulas has been an installer partner of the Chillwind mast design having identified it as the most advanced system in the UK for measuring wind resource.
Sanjay Bowry, chief executive officer at Dulas said: “Dulas has a long and successful relationship with Chillwind and we are excited to be further strengthening our partnership through this acquisition. This year, our 30th in business, has been a significant year for Dulas as great strides have been taken to grow the business and develop our service offering. This acquisition further demonstrates our commitment to expanding our wind division in response to growing demand for wind power solutions across the UK.”
Richard Tarves, Chillwind’s managing director, added: “Having worked in close partnership with Dulas for over a decade, we are delighted to be officially joining forces with one of the UK’s longest established renewable energy companies. The UK wind sector is currently undergoing a period of growth and this bringing together of knowledge and expertise will ensure that Dulas and Chillwind are ideally positioned to support the future development of the industry.”
HSBC, which provided debt finance to support the transaction, has welcomed the acquisition. HSBC Swansea, Bridgend and the Valleys Area commercial director, Ed White, said: “Dulas is a strong, growing business that operates in a dynamic sector. This strategic acquisition further strengthens the company’s proposition and HSBC was delighted to support the deal. We have been extremely impressed with the management team of this long-established customer and have enjoyed working with the company since it switched its banking to HSBC.”