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Macquarie agrees takeover of Onyx Insight

RICHARD HEAP

March 15, 2024

Macquarie Capital has agreed to buy wind turbine analytics and condition monitoring specialist Onyx Insight to support its expansion in the wind market.

Onyx Insight has been part of BP Launchpad since 2017 and monitors the performance of over 17,000 turbines in more than 30 countries. After the takeover, Onyx will continue to operate as an independent business for wind turbine operators, owners and manufacturers.

Macquarie is making the investment through its Growth & Technology team. Larry Handen, senior managing director for Macquarie Capital Growth & Technology, said: “Onyx has established itself as a leading provider of predictive maintenance solutions.  Through this investment we aim to support its growth within the industry at global scale, in fitting with Macquarie Capital Growth and Technology’s record in partnering with high-growth, innovative companies.”

Bruce Hall, chief executive at Onyx Insight, said: “Today marks a new chapter for Onyx, which offers exciting new future growth opportunities. This transaction means we can continue to develop unique and innovative solutions to drive down the cost of wind energy and enable higher levels of operational efficiency. Onyx remains focused on delivering value to its customers with greater breadth and scale enabled by the acquisition.”

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