Danish firm SSP Technologies Holding ApS, a portfolio company of Ventizz Capital Fund IV, LP has ended a legal dispute with PNE Wind AG via an amicable settlement. The dispute, which began in 2009, was in relation to the acquisition of SSP in 2008. Ventizz IV has also announced it is taking over the Nautilus II wind farm, located in German territory in the North Sea, from PNE Wind AG.
PRESS RELEASE
The Danish firm SSP Technologies Holding ApS, a portfolio company of Ventizz Capital Fund IV, LP (?Ventizz IV?), has ended a legal dispute with PNE Wind AG via an amicable settlement. The dispute, which began in 2009, was in relation to the acquisition of the Danish rotor blade specialist SSP in 2008.
Alongside an arrangement to give up its right of action, Ventizz IV is taking over the ?Nautilus II? wind farm, located in German territory in the North Sea, from PNE Wind AG.
The two contract parties have agreed not to disclose the financial details of this transaction.
Ventizz IV will continue the development of the Nautilus offshore wind farm via a portfolio company and by working with an industrial partner. The farm has a planned generation capacity of 560 MWp.
For Ventizz, the takeover of Nautilus II signals the start of the expansion of its Offshore Wind business, which will continue through the targeted acquisition of additional wind farms.
About Ventizz Capital Partners
Ventizz Capital Partners was established in 2000 and has offices in St. Gallen, Zurich, D?sseldorf and Vienna. Ventizz Capital Partners is the exclusive advisor to the Ventizz Private Equity Funds, which provide growth capital and buyout financing for high tech companies in Western Europe. Four partners and a team of 15 additional professionals currently advise four funds with a total capital under management of EUR 675m. Ventizz Capital Fund IV L.P. is the largest of four so far established funds. The Fund was closed at the end of 2007 after only six months of fundraising, during which EUR 450m were raised, making it one of the biggest private equity funds in the segment of growth capital and mid-size tech buyouts in the German-speaking region.
Ventizz Funds have to date invested in 41 companies with a focus on the areas of renewable energy/clean tech, high-tech manufacturing industries, medical technology and information and communication technology. In addition to a variety of trade sales, Ventizz has so far floated four portfolio companies (ersol, SAF, PV Crystalox Solar and recently exceet) at European stock exchange markets.
Source: http://www.pehub.com/125661/ssp-technologies-ends-legal-dispute/
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