03/14/2023

Full Circle accelerates European multi-brand growth plans with acquisition of Net-Wind in France

Wind services specialist Full Circle expands its footprint in France with strategic acquisition of French firm, Net-Wind / Net-Wind has over a decade of experience, with around 30 staff based across five service centres / Acquisition expands Full Circle’s multi-brand capabilities, adding further experience in major component exchange, service activities and decommissioning on multiple platforms

Full Circle, the global wind turbine operations and maintenance (O&M) specialist group, has acquired French firm, Net-Wind as part of its European multi-brand growth strategy. This will expand Full Circle’s footprint in the French market, alongside its headquarters in the Netherlands and existing offices in France, the UK, Italy and Greece.

Net-Wind is a multi-brand O&M provider that has been operating for over a decade, with experience working on Senvion, Nordex, Gamesa, Vestas and Enercon turbines. The company operates in France and has around 30 staff based over five service centres across the country.

The acquisition will significantly expand Full Circle’s presence in the fast-growing French wind energy market, which is forecast to achieve a compound annual growth rate of 6% in the period between 2023 and 2027. The vast majority of this growth will come from onshore wind, with the French government planning for a total of 35 GW to be installed by 2028, an increase of 17 GW since 2020.

This deal will see the current management team remain in place, with Full Circle investing into the company, expanding its technical and operational capabilities.

Billy Stevenson, Chief Executive Officer of Full Circle, said: “Net-Wind has established a well-deserved reputation in the French market for technical excellence and effective project delivery, working across a wide variety of major turbine brands. We are delighted to have secured this deal, which we believe will benefit both sides and, more importantly, expands our capabilities as a group and allows us to offer a better service to our customers in France and beyond.”

Didier Evano, outgoing President of Net-Wind, added: “Since Net-Wind was established in 2011, the company has been passionate about delivering great quality service for the installation, effective operation, preventative and corrective maintenance, and decommissioning of wind turbines. I believe that this deal will allow Net-Wind to build on this heritage and invest in the long-term growth, while continuing to deliver best-in-class service for the company’s clients.”

Created in 2021 as a demerger from wind turbine manufacturer EWT, Full Circle has over two decades of specialist O&M experience and currently offers wind services for onshore wind farms across Europe, North America and South Asia.

Full Circle is a part of AtlasInvest’s energy transition investment portfolio. Financial details of the Net-Wind transaction are not disclosed.