Target Information

Founded in 2014 in Barcelona, Eolos Floating Lidar Solutions (Eolos) is a global leader in the acquisition and sale of metocean data specifically tailored for the offshore wind energy sector. The company utilizes proprietary floating LiDAR platforms to gather crucial data such as meteorological, environmental, and marine information, which is essential for the design, construction, and operation of offshore wind farms. Eolos has established itself as a pioneer in this field, boasting a certification from Carbon Trust that validates the reliability and accuracy of its data services.

With a robust track record of over 30 measurement campaigns across ten countries in Europe, Asia, and the United States, Eolos has experienced annual growth rates exceeding 40%, achieving revenues close to 10 million euros in 2022 with EBITDA margins surpassing 20%.

Industry Overview

The offshore wind energy sector is poised for significant growth, with projections indicating global installations reaching 260 GW by 2030 and 730 GW by 2040. This expansion is driven by both public and private initiatives aimed at reducing carbon emissions and enhancing competitiveness within the industry. Offshore wind has distinct advantages, including higher wind resource quality, reduced visual impact, and the capacity for larger turbine installations.

Moreover, advancements in technology are making offshore wind farms increasingly viable, with floating wind turbines expanding the geographical range available for installation. These developments contribute to the strategic importance of companies like Eolos, which provide essential data for optimizing project performance in this burgeoning sector.

Another factor fueling growth in the offshore wind industry is the pressing need for sustainable energy sources amidst climate change concerns. This shift is leading to increased investments and supportive policies from governments worldwide, reinforcing the offshore wind sector's potential to contribute significantly to global energy needs.

Rationale Behind the Deal

The entry of Nazca Capital into Eolos represents a strategic infusion of funds aimed at accelerating the company’s international growth strategy and further solidifying its position in the expanding offshore wind energy market. Nazca Capital's investment of 12 million euros is expected to enhance Eolos's capabilities and enable it to expand its fleet of floating LiDAR platforms, which is crucial for the company's future growth.

This partnership will enable Eolos to maintain its research and development investments, which are vital for strengthening its data acquisition and processing technologies. Additionally, the company plans to explore selective international acquisitions and develop new business lines, such as entering the operational and maintenance phases of offshore wind farms.

Investor Information

Nazca Capital is a leading private equity firm specializing in investments in unlisted SMEs in Spain. With a proven track record of successfully developing growth projects at both the organic and inorganic levels, Nazca brings valuable expertise to Eolos. The firm's commitment to investing in companies with a solid technological foundation aligns with Eolos's ambitious growth strategy in the offshore wind sector.

Both Carlos Carbó and Celia Pérez-Beato, partners at Nazca Capital, have expressed their confidence in Eolos’s leadership and its potential for growth within the industry. Their involvement aims to support Eolos in leveraging its technological strengths and expansive market opportunities to drive sustainability and innovative practices in line with ESG criteria.

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The entry of Nazca Capital into Eolos is viewed favorably as it provides the necessary resources for Eolos to implement its strategic growth plans. The offshore wind energy sector's expansion, combined with Eolos's distinguished technological capabilities, suggests a robust foundation for future success. With the anticipated growth in this market, Eolos is well-positioned to capitalize on the increasing demand for reliable metocean data.

Furthermore, Eolos's commitment to research and development, alongside its strategic exploration of new business avenues, indicates a forward-thinking approach that is likely to yield positive returns. The existing certification from Carbon Trust adds an extra layer of credibility to the company's offerings and may enhance client trust, which is crucial in securing new contracts in a competitive landscape.

Overall, the collaboration between Nazca and Eolos signifies a promising investment opportunity, particularly in light of the growing global focus on renewable energy sources. This partnership not only bolsters Eolos's operational capabilities but also aligns with broader environmental goals, making it a potentially lucrative venture for investors.

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