Upping its digital game, Alfa Laval has entered a NOK 3,630 million (about $439,000) agreement with Stockholm-based EQT Private Equity to acquire StormGeo, the weather routing and software-based decision support specialist that started life in 1997 as a spin-off from Norway’s largest commercial broadcaster, TV2.
Alfa Laval says the acquisition is part of its strategy to support the marine industry’s efforts to decarbonize and make operations more efficient and says it “will also enhance Alfa Laval’s knowledge within digital services.”
“The acquisition of StormGeo will be a strong addition to our toolbox of solutions that help our customers address the decarbonization challenge in the industry,” says Tom Erixon, president and CEO of Alfa Laval. “Furthermore, StormGeo fits excellently to our digital acceleration ambition, and we will use their digital and customer experience to level up our offerings and to get deeper experience in the digital space.”
StormGeo, headquartered in Bergen, Norway, employs 515 people in 15 countries and provides solutions and services for weather-sensitive operations, primarily in the marine industry, offshore and other weather-dependent industries. The company’s weather information services help customers mitigate risk, improve safety and make sustainable choices on routes and operations.
“We are very excited to be joining Alfa Laval. StormGeo will benefit from being owned by a market leading, long-term, industrial owner. We look forward to continuing to develop our business through further geographic and technological expansion together with Alfa Laval,” says Søren Andersen, CEO of StormGeo.