December 2025 – Capiton V and its co-shareholders have completed the successful sale of BWTS GmbH (“BWTS”) to ZPUE GmbH (“ZPUE”), marking another milestone in Capiton’s track record of strategic divestments.
Headquartered in Stäbelow, Germany, BWTS is a premier independent service provider specializing in renewable energy solutions. Its comprehensive portfolio includes inspection, maintenance, and repair services for on- and offshore wind energy, photovoltaic systems, biogas, hydrogen, and e-mobility installations.
The acquisition by ZPUE, a leading European player in electrical energy infrastructure, represents a significant step forward for both companies. It enables ZPUE to strengthen its presence in Western Europe and deepen its footprint in the wind energy sector, while BWTS gains access to new customer segments, enhanced service capacity, and cutting-edge technologies through the partnership.
Christoph Spors, Partner at Capiton AG, expressed his gratitude, saying: “We are incredibly proud of what BWTS has achieved under the leadership of its outstanding management team. Their dedication and expertise have positioned BWTS as a key player in renewable energy services. We are confident that ZPUE is the ideal strategic partner to support BWTS’s continued growth and innovation.”
BWTS Managing Director Michael Richter echoed the sentiment: “Capiton’s trust and support have been instrumental in our success over the years. Together, we have built BWTS into a leading service provider in the renewable energy sector. We are now excited to embark on the next chapter with ZPUE, leveraging their industry expertise to drive our growth and expand our capabilities.”
About the Transaction
Capiton was advised by WTS Advisory (exclusive M&A advisor), NEON (legal), and EY (tax).
About BWTS
BWTS GmbH is a leading independent service provider offering inspection, maintenance, and repair services for renewable energy systems, including on- and offshore wind, photovoltaic, biogas, hydrogen, and e-mobility installations (www.bwts.de).
About ZPUE
ZPUE GmbH is a European leader in manufacturing transformer stations, switchgear, EV charging infrastructure, and energy storage systems, driving innovation in electrical energy infrastructure across the continent (www.zpue.com).
