10 July 2019
A.P. Møller Holding A/S acquires KK Group A/S and brings a strong track record in globalization and added capabilities to accelerate KK Group’s growth journey in wind and electrification of the society.
As the wind industry continues to mature, wind turbine manufacturers are expected to accelerate outsourcing strategies to capture the gains from stronger competitiveness and reduced complexity. Combined with increased geographical expansion and local content, the supplier landscape is likely to transform and consolidate into fewer, bigger and more capable suppliers on a global scale.
Having secured a strong long-term owner in A.P. Møller Holding A/S, KK Group A/S and the wind activities in KK Wind Solutions A/S are in the best possible positions to capture the growth opportunities together with its customers.
A.P. Moller Holding is the parent company of the A.P. Moller Group, which was established in 1904 by Arnold Peter Møller.
Today the Group consists of private and public companies within transportation, logistics, infrastructure, energy, and financial services. A.P. Moller Holding is owned by the A.P. Moller Foundation, which was set up by the founding family. The A.P. Moller Group reported a 2018 revenue of USD 40bn with consolidated assets of USD 62bn. The purpose of A.P. Moller Holding is to invest in and develop ‘nyttig virksomhed’, i.e. companies having a positive impact on society.
The acquisition of KK Group is a step into renewables with an aim of accelerating the industrialization of wind and leading the electrification of society.
“We are very proud and humble about the prospect of having A.P. Moller Holding as our new owner. A.P. Moller Holding brings in very strong capabilities and financial strength to accelerate our strategy towards 2025, allowing us to follow our customers globally and to expand our system solutions across technology, supply chain and service,” says Chlinton Arendahl Nielsen, Chief Executive Officer, KK Wind Solutions.
The change in ownership is not going to impact the strategic direction of KK Wind Solutions, as A.P. Moller Holding embrace and fully support the current growth strategy and projected plans.
“KK Wind Solutions has an impressive history and holds a strong track record as a preferred supplier of electro-mechanical systems to the world’s leading wind turbine manufacturers,” says Jan T. Nielsen, Chief Investment Officer, A.P. Moller Holding and continues:
“As the wind industry has gained momentum globally, KK Wind Solutions must further develop its global footprint and follow its customers’ global expansions. With A.P. Moller Holding’s global mindset, network and expertise, we believe we can be a good partner and an engaged owner to support KK Wind Solutions on this exciting journey.”
Adding KK Wind Solutions to its ownership, A.P. Moller Holding will establish its position as an active player in the green energy transition, to create a positive impact on society.
"The strategic fit between the companies is very strong and A.P. Moller Holding is an ideal owner to support KK Wind Solutions on our future growth journey,“ says Chlinton A. Nielsen, CEO, KK Wind Solutions.
The transaction of ownership is subject to approval from the Danish and German competition authorities. Expected closing is in Q3 2019.
Kenneth Damm Hansen
Marketing & Communication Manager
Phone: +45 24 76 37 99
A.P. Moller Holding steps in as new owner of KK Group