Oaktree to Take Over Wind Blade Maker TPI After Bankruptcy
A TPI Composites wind turbine blade manufacturing facility in Newton, Iowa, in 2012.
Photographer: Daniel Acker/Bloomberg
Oaktree Capital Management is set to take over troubled wind turbine blade manufacturer TPI Composites Inc. as part of its debt restructuring in Chapter 11 bankruptcy.
Funds affiliated with Oaktree are currently the senior secured lenders, according to a statement from TPI. These lenders are set to become the new owners of the reorganized company once it emerges from bankruptcy, Chief Executive Officer Bill Siwek said in a court filing.