Pearce Renewables, a division of Pearce Services, announced the acquisition of MFG Energy Services (“MFG Energy” or the “Company”), a division of Molded Fiber Glass Companies (“MFG Companies”). The acquisition expands Pearce Renewables’ technical composite repair and inspection services for wind turbine blades, nacelles, and nose cones and solidifies its position as the largest Independent Service Provider (“ISP”) in the renewable energy services market. Terms of the transaction were not disclosed.

Initially launched in 2007 and headquartered in Gainesville, Texas, MFG Energy is a leading provider of composite repair, engineering, maintenance, and inspection services for wind turbine components. The Company is led by a highly experienced team of industry experts and previously operated as a division of MFG Companies, which manages the largest network of full-service composite manufacturing facilities in North America.

“We are excited to welcome MFG Energy to the Pearce Renewables family, which will significantly expand our blade composite repair and maintenance services for wind turbines,” said Zack Dorfman, Pearce Renewables’ Senior Vice President of Wind. “We have been impressed with their extensive knowledge of wind turbine blades and components, deep engineering talent, and ability to execute the most complex repair jobs with unmatched safety, efficiency, and quality.”

“MFG Energy is an outstanding business run by an expert team of professionals,” said Dave Denny, President & Chief Executive Officer of MFG Companies. “We have the utmost confidence in the Pearce Renewables team and know that all MFG Energy teammates will have tremendous career advancement opportunities with Pearce Renewables during this next phase of the Company’s growth.”

The acquisition of MFG Energy is the seventh transaction completed by Pearce Services in the renewable energy sector since it partnered with New Mountain Capital in March 2020. Pearce Services formally launched its Pearce Renewables division in October 2021 following the acquisitions of MaxGen Energy Services (2020), World Wind & Solar (2020), Suzlon’s North America O&M business (2020), A & A Wind Pros (2021), Mortenson Energy Services (2021), and Mountain Renewables (2021).

Pearce Renewables | www.pearce-renewables.com