Alfa Laval Completes the Acquisition of StormGeo

Source: www.gulfoilandgas.com 6/1/2021, Location: Europe

Alfa Laval has completed the acquisition of StormGeo, a global leader in weather intelligence and advanced data science solutions. The acquisition is part of Alfa Lavalís strategy to support the marine industryís efforts to make operations more efficient and will also enhance Alfa Lavalís knowledge within digital services.

The purchase price is fully financed via cash and amounts to MNOK 3,630 (approximately MSEK 3,700) on a debt and cash free basis. The acquisition is neutral to Alfa Lavalís EBITA margin and earnings per share.

StormGeoís weather information services help customers mitigate risk, improve safety and make sustainable choices on routes and operations. StormGeo was founded in 1997 and has since 2014 been under the ownership of EQT, DNV GL and a group of employees. Total sales in 2020 amounted to MNOK 714 (MSEK 699). StormGeo will become a part of the Alfa Laval Marine Division.

About StormGeo
StormGeo, founded in 1997, is a global leader in meteorological intelligence services and decision support, with leading solutions in shipping, oil and gas, renewable energy, utilities, cross industry and aviation. Its products help customers manage risk, optimize performance, reduce costs and increase revenue. The company is headquartered in Bergen, Norway and has 24 offices in 15 countries and 515 employees. As a participant in the UN Global Compact for Sustainable Business in the Oceans, StormGeo's passion for climate and the protection of natural resources is a motivation to support its customers in making environmentally responsible business decisions.


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