3i has concluded an agreement to purchase 100% of the share capital of Gamesa Energía y Servicios, S.A. (GES) and Siemsa Este, S.A., divisions of Corporación Tecnológica Gamesa.
The company specialises in the construction and maintenance of wind farms and has a diversified petrochemical automation, construction and maintenance business. The transaction is subject to approval from the Spanish competition authorities. The enterprise value of GES is approximately € 170 million. In 2005, the company had sales of € 210 million and EBITDA of € 19 million. Through this transaction, 3i will support the international expansion planned by GES to strengthen its presence in countries such as the United States, the United Kingdom and Italy.
