DGAP-News: Ventizz Capital Partners AG: Ventizz and HOCHTIEF set up joint venture for offshore wind farms
(firmenpresse) - DGAP-News: Ventizz Capital Partners AG / Key word(s): Joint
Venture/Private Equity
Ventizz Capital Partners AG: Ventizz and HOCHTIEF set up joint venture
for offshore wind farms
20.02.2012 / 11:59
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Ventizz and HOCHTIEF set up joint venture for offshore wind farms
Ventizz Capital Partners and HOCHTIEF Solutions together want to acquire
concessions, develop and sell farms
St. Gallen/Switzerland - February 20, 2012. With economic effect from
February 1, 2012, Ventizz Capital Partners and HOCHTIEF Solutions have set
up a joint venture for the development of offshore wind farms. The two
partners each hold a 50 percent interest in the company named HOCHTIEF
Offshore Development Solutions S.à.r.l. The partners are aiming to tap
further earnings potential in the high-growth market for offshore wind
energy. Plans include, for example, to acquire and develop wind farm
concessions and capitalize on the resulting value growth by selling them on
before construction begins. The new joint venture will focus on readying
the subsequent construction of the wind farms in a way that significantly
reduces the risk of cost overruns and delays. This will benefit the
companies that later go on to construct and operate the wind parks at the
sites concerned, avoiding risks seen on projects currently in progress. The
joint venture will thus help advance the German government's target of
10,000 megawatts of installed capacity in the German offshore wind power
market by 2020.
Upon completion of project development, wind park concessions will be sold
to the future operators such as energy suppliers and public utilities,
financial investors and, in increasing numbers, large industrial companies.
These clients benefit from the offshore management expertise provided and
are able to build the wind farms following their development more
efficiently and reliably. The lack of needed management capacity is still a
substantial obstacle to growth in the offshore wind power market.
The joint venture pools the competencies of two partners that complement
each other perfectly. HOCHTIEF is one of the most important players in the
booming market for the construction of offshore wind farms. The Group
performs construction and logistics services for a number of German wind
farms. In addition, the company can draw on many years of experience in
port construction, maritime civil engineering and offshore logistics.
HOCHTIEF operates its own jack-up platforms and is currently building one
of the world's most powerful installation vessels, the 'Innovation,'
together with a partner. With the joint venture, the Group aims to add to
its own value chain: Alongside the traditional construction of wind farms
and the related logistics, it plans to also acquire concessions for such
projects going forward, develop them and sell them after an increase in
value has been achieved, as practiced in the property development business.
Ventizz Capital Partners is a leading private equity investor in the
German-speaking regions for technology-oriented growth companies. Since
being set up in 2000, the company has made as many as 41 investments and
initiated or provided consultancy to a total of four funds with a combined
capital of EUR 675 million. The company's focus is on strategic and
operative development of the target companies and on their growth. By
setting up the joint venture, Ventizz is systematically continuing to
expand its offshore wind segment.
Ullrich Reinke, Head of Energy and Infrastructure Solutions at HOCHTIEF
Solutions: 'Offshore wind farms offer enormous growth potential. With the
new company, we also want to contribute our know-how during the early
development phases of offshore projects and thus augment value creation in
this future market. Everything taken together will make for a continuous
project pipeline for the Group, with high earnings potential.'
'We are delighted to have found in HOCHTIEF a partner who is an experienced
offshore player and who wants to help shape this growing market together
with us. This creates a clear win-win situation for both companies,' says
Willi Mannheims, partner and member of the Executive Board of Ventizz
Capital Partners Advisory AG, the exclusive advisor to the Ventizz Private
Equity Funds.
HOCHTIEF Offshore Development Solutions is already planning its first
project: Following the setup of the joint venture, Ventizz is bringing the
offshore wind farm Nautilus II into the company. PNE Wind AG had sold
Nautilus II to Ventizz last year and will continue to support the
development project until approval by the Federal Maritime and Hydrographic
Agency (BSH) is obtained. HOCHTIEF Offshore Development Solutions has also
set its sights on four other offshore wind farms in the Exclusive Economic
Zone (EEZ) in the North Sea and Baltic.
Company profiles
About Ventizz Capital Partners
Ventizz Capital Partners was established in 2000 and has offices in St.
Gallen, Zurich, Düsseldorf 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 funds established so far. 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.
On the internet at www.ventizz.com
About HOCHTIEF
HOCHTIEF is one of the leading international providers of
construction-related services. With more than 70,000 employees and a sales
volume of EUR 20.16 billion in FY 2010, the company is represented in all
the world's major markets. The Group's service offering in the fields of
development, construction, services, concessions and operation covers the
entire life cycle of infrastructure projects, real estate and facilities.
In the USA, the biggest construction market in the world, HOCHTIEF is the
No. 1 general builder via its subsidiary Turner and, with Group company
Flatiron, ranks among the most important players in the field of
transportation infrastructure construction. With its subsidiary Leighton
(HOCHTIEF share around 54 percent), the Group is market leader in
Australia. Because of its engagement for sustainability, HOCHTIEF has been
listed in the Dow Jones Sustainability Indexes since 2006.
On the internet at www.hochtief.com/press
HOCHTIEF Solutions consolidates the core business of the HOCHTIEF Group in
Europe and in selected regions worldwide. The company plans, develops,
builds, operates and manages real estate and infrastructure facilities.
HOCHTIEF Solutions is the management company of the Group's Europe division
which employed around 15,000 people around the globe in fiscal 2010. In
many regions and segments, the company is a market and innovation leader.
On the internet at www.hochtief-solutions.com
Press contact:
CNC AG
Markus Wieser
Tel.: +49. 89. 599 458 114
E-Mail: Markus.Wieser(at)cnc-communications.com
End of financial news
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