TRANSACTIONS / Sale of Ege Towers to CS Wind

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CS Wind, a leading South Korea-based wind turbine tower manufacturer, acquired Ege Towers, a leading producer of steel tower for wind turbines in Turkey for an enterprise value of US$ 12 million.

Ventura Partners acted as exclusive financial advisor to the shareholders of Ege Towers on the transaction.

Established in Izmir/Turkey in 2013, Ege Towers manufactures steel towers for wind turbines in its own factory located in İzmir, one of the most feasible locations in Turkey to harness the power of wind energy.

Established in 2006, CS Wind is a South Korea-based company mainly engaged in the manufacture of wind towers for onshore and offshore wind power projects.  As a main supplier to global wind power companies, CS Wind operates manufacturing sites in Canada, UK, China, Vietnam, and Malaysia.  Listed on the Korean Stock Exchange, CS Wind generated revenues of around US$ 300 million in 2017. The acquisition of Ege Towers is a strategic step for CS Wind to expanding its business into Turkey, before penetrating into neighbouring countries.