Abn Amro invests in Fiberline Composites

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Abn Amro’s Energy Transition Fund (ETF) has bought 34% shares of Danish composites manufacturer Fiberline Composites. Abn Amro ETF is a sovereign subsidiary of the Dutch bank Abn Amro. The new robust co-investor will provide Fiberline the financial ability to increase activities in the area of composite pultrusions for wind turbine blades.

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Figure: Abn Amro’s Energy Transition Fund (ETF) has bought 34% shares of Danish composites manufacturer Fiberline Composites. 

Abn Amro ETF has more than tripled its business in the past 5 years and assumes to triple again in the upcoming 5 years. The company aims to tail its customers internationally, which comprises creating production facilities on multiple continents.

Besides, to attain the business plan, a new board of directors with a secure footing in the wind sector will be selected. Fiberline’s non-wind activities have been placed in a separate company.

With this deal, Fiberline has fascinated a capital-strong co-owner for the company’s wind activities.

Abn Amro ETF has a strong strategy when it comes to investing in sustainable technology, which made Fiberline a natural match. Fiberline was eyeing capital to implement its determined growth strategy and follow customers globally.

Pieter Smit, investment director at Abn Amro ETF says, “Fiberline Composites has established its capability to effectively get its innovative materials incorporated into the world’s longest and most advanced wind turbine blades. This business flawlessly fits in our strategy to, amongst other investment pillars, invest in companies that can play a key role in accelerating the energy transition.”

Ole Arenfeldt Jensen, CEO says, “We are proud to be able to fascinate a strong and grave investor. We look forward to rushing our growth strategy within wind turbine blades where we have been a first mover in glass- and carbon fiber pultrusions for three decades. More advanced blades are crucial to the success of the wind sector. As blades become longer and generate more power than pultrusions are an indispensable component.”

After sanction, Fiberline will employ a new board of directors, consisting of several heavy-weights from the global wind sector including the former CEO of LM Wind Power, Marc de Jong, the former CEO of JSB, Frank V Nielsen and the former vice president of Procurement at Vestas and current CEO at Jysk Energi, Lars Naur. Peter Thorning will continue in his role as chairman, and Abn Amro ETF will be represented on the board of directors by Smit.

Through a significant capital injection and the purchase of shares from the Thorning family, Abn Amro ETF will hold 34% of Fiberline Composites’ shares.

The capital injection means that Fiberline Composites will now be fully focused on the wind sector, as this transaction also contains the separation of Fiberline’s construction division into an independent company. This entity will continue solely with the Thorning family under the name Fiberline Building Profiles.