Juhl Wind completes acquisition of Next Generation Power System
Juhl Wind Inc., an established leader in Community Based Wind Power development and management,, has informed that it has completed its acquisition of Next Generation Power Systems - a company that specializes in community scale wind turbine and solar systems.
Woodstock-based Juhl Wind is an established leader in Community Based Wind Power development and management, focused on wind farm projects throughout the United States and Canada.
According to market experts, the acquisition of Next Generation Power Systems brings smaller wind turbine and solar expertise to Juhl Wind to enhance and expand its existing community wind power product and service offerings.
The company has acquired Next Generation Power Systems for 92,143 shares of unregistered Juhl Wind common stock, valued at $3.50 per share.
In addition, the transaction also included Juhl Wind's purchase of a commercial building in Pipestone, Minnesota, from a related company, Next Generation Power Properties, for a purchase price of $144,000 payable by delivery of an aggregate of 41,070 unregistered common shares in Juhl Wind allocated among certain selling shareholders (who are also NextGen selling shareholders).
In 2007, Next Generation Power Systems had generated approximately $850,000 in revenue and it expected that it would post solid growth in 2009.
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