Wednesday, August 8, 2012

Platinum Equity Buys Clipper Windpower

Los Angeles-based private equity firm Platinum Equity has acquired wind turbine manufacturer Clipper Windpower, according to Clipper parent United Technologies Corp (UTX) Tuesday. Financial details of the deal have not been announced. United Technologies acquired Clipper for $382M in 2010; UTX recently has said that it was looking to sell Clipper due to a stall in the alternative energy business. Platinum Technology is the private equity firm founded by Tom Gores. Clipper is based in Carpinteria.

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