TowerBrook Capital Partners has made a majority equity investment in LiftWerx Holdings Inc., enhancing its presence in the Canadian onshore wind services market.

Information on the Target

LiftWerx Holdings Inc. is a Canada-based company specializing in operations and maintenance services for the onshore wind industry. Established in 2016, it operates as an independent service provider, offering comprehensive and mission-critical solutions for wind turbine maintenance. The company is notably proficient in replacing major turbine components, including gearboxes, main bearings, and generators. LiftWerx has also pioneered proprietary uptower crane technology, which is an innovative solution for servicing turbines. This technology, mounted on the turbines themselves, is safer, more economical, and environmentally friendly compared to traditional ground-based cranes.

In just under a decade, LiftWerx has become an influential player in the wind operations and maintenance sector, boasting a loyal clientele that consists of leading blue-chip original equipment manufacturers and owner-operators. The company's commitment to innovative solutions has distinguished it within the industry, enabling it to offer services that are not only efficient and cost-effective but also align with a more sustainable approach to energy management.

Industry Overview in Canada

The Canadian wind energy industry is a significant component of the national energy landscape, driven by a growing commitment to renewable energy sources. As of 2023, Canada boasts over 15,000 megawatts of installed wind power ca