AP Møller acquires KK Wind Solutions

Danish conglomerate AP Møller has agreed to acquire KK Group, the parent company of control systems specialist KK Wind Solutions.

The transaction is expected to close in Q3 2019
The transaction is expected to close in Q3 2019

Meanwhile, KK Wind Solutions CEO Chlinton Arendahl Nielsen said its new owners would give the company the "financial strength" to expand globally.

AP Møller, which owns stakes in transportation, logistics, infrastructure, energy and financial services companies, stated the acquisition would help it move into the renewables sector.

KK Wind Solutions supplies turbine control systems to leading manufacturers.

AP Møller added that the "change in ownership not going to impact strategic direction of KK Wind Solutions".

The transaction is subject to approval from relevant competition authorities and is expected to close in Q3 2019.

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