Big payback for Norwegian PE manager after flipping Danish JSB Group

Danish turbine blade core maker JSB Group has been sold to a Swiss industrial giant after only two years of ownership by Verdane Capital. The Norwegian fund made a fortune on the asset.

Frank V Neilsen | Photo: LM Wind Power

Norwegian private equity manager Verdane Capital can stow DKK 520 million (EUR 70 million) into its account after selling Danish wind turbine core manufacturer JSB Group — which has only been active on the market for sub-suppliers to the wind energy industry for two years.

With the sale, the private equity fund has already recouped a big part of its investment from 2016, when it acquired three Danish sub-suppliers — Jupiter, JSB Group and Polytech.

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