Bridges is pleased to announce the sale of GEV Wind Power, a specialist services provider to the wind energy industry, to sector-focused investor Certek.

Based in Hessle, East Yorkshire, GEV employs specialist technicians to support the maintenance of on- and offshore wind turbines across the globe. GEV’s client base includes the world’s biggest OEMs and Wind Farm Operators and it is the recognised market-leader in the maintenance of wind turbine rotor blades.

GEV supports clients through its operational hubs in North America, UK & Europe and Australia, deploying a pool of more than 500 specialist technicians to maintain thousands of wind turbines across four continents.

Bridges initially invested in GEV in 2019, in line with our mission to invest in a more sustainable economy. Since then, the business has serviced a total of 5,757 blades, equivalent to maintaining c.6,000 MW of wind energy.

Certek is an investment vehicle led by David Harrison, who originally founded Phenna Group in 2019, a business providing Testing, Inspection, Certification and broader Compliance services globally. It is supported by Macquarie Group, a global provider of banking, financial, advisory, investment and funds management services with assets under management in excess of €569 billion as at 30 September 2024.

Certek is backing GEV’s CEO and founder David Fletcher and the existing management team, who have led the expansion of the Group over the past 15 years. Terms of the transaction were not disclosed.

David Fletcher, CEO of GEV, said: “Our business plays a critical role in supporting the generation of clean energy, as we actively maintain the operational performance of wind turbines and help to reduce downtime. With Certek’s backing, we will continue to increase our support infrastructure to our clients but also play an active part in supply chain consolidation, focusing on the consistent delivery of quality and safety that our clients demand across all key geographies where we operate”.

Simon Braham, a partner at Bridges, said: “Wind energy is critical to the transition to a more sustainable future. As a global leader in wind turbine repair and maintenance, GEV can play an important role in supporting this transition, and we look forward to seeing the business continue to go from strength to strength in the coming years.”

Fletcher added: “I want to thank Bridges for their investment in the Group over the past 6 years, which has enabled us to complete the strategic acquisitions of rotor blade technology solutions provider Wind Power Lab, based in Denmark, and Australian based wind turbine and safety specialist Rigcom – with the support of our Chairman John Leahy, who has expertly guided us during the journey.”

David Harrison, CEO of Certek, added: “The wind energy industry is growing rapidly and there are more opportunities than ever for GEV to expand their offering on the back of rising demand. Our partnership with GEV will help them to respond to this demand, investing in a focused and strategic manner to meet the businesses growth aspirations. We are looking forward to supporting David and the rest of the team as they continue to drive the business forward in the years ahead.”

Adam Joseph, Head of Private Equity, Europe for Macquarie, added: “GEV is a high-quality service provider in a sector that will play an essential role in the global transition towards net zero. We’re delighted to support this transaction and extend Macquarie’s involvement in the wind turbine O&M sector.”