According to Indian media, a private equity fund Arpwood Capital has acquired 21% shares of Senvion, German turbine manufacturer recently taken over by Centerbridge Partners.
The purchase is said to be worth $112 million and funded through a leveraged buyout. This is in line with Arpwood’s strategy, which aims to acquire controlling stake in mid-market companies through a leveraged buyout, The Economic Times quotes Rajeev Gupta, managing director of the fund as saying.
Senvion was acquired by Centerbridge in April this year, and the latest share acquisition will not affect the governance between the companies.
Image: Senvion