TPI COMPOSITES, INC (TPICQ): M&A transaction — TPI Composites sells Turkish wind blade facilities to XCS Composites, removes majority of EMEA segment

TPI COMPOSITES, INC

Sale closed Sept 10, 2025 after U.S. Bankruptcy Court approval; 2,700 Turkish employees transferred.
Transaction includes two Izmir wind blade plants and field service business; buyer assumed all liabilities.
Pro forma H1 2025 net sales drop from $612M to $478M; net loss from continuing ops improves to -$109.9M.
FY2024 pro forma net loss from continuing ops worsens to -$229.9M, removing TPI Türkiye's $19.8M net income.
Preliminary non-cash gain on sale recorded; company remains a debtor-in-possession in Chapter 11.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

TPI COMPOSITES, INC completed a disposition involving XCS Composites L.L.C-FZ (closed 2025-09-10).

Action: disposition
Counterparty: XCS Composites L.L.C-FZ
Closing: 2025-09-10

Exact text from the filing

On September 10, 2025, in accordance with the Term Sheet, following the satisfactory completion of the closing conditions, including the approval of the U.S. Bankruptcy Court for the Southern District of Texas, TPI Holdings Switzerland GmbH (“Seller”) consummated the sale and transfer to the Purchaser of the Seller’s ownership interests in two of the Company’s subsidiaries, TPI Kompozit Kanat Sanayi ve Ticaret Anonim Şirketi and TPI Kompozit Kanat 2 Üretim Sanayi ve Ticaret Limited Şirketi (together, “TPI Türkiye”).

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TPI COMPOSITES, INC filing history →

Source: SEC EDGAR

accession 0001171843-25-005918

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