The EQT Mid Market fund (EQT Private Equity) has agreed to sell StormGeo Holding AS (StormGeo) to Alfa Laval AB (Alfa Laval), a specialist in heat transfer, centrifugal separation and fluid handling. The transaction price amounts to NOK3,630 million.
With extreme weather being the number one cause of business disruptions globally, StormGeo’s point specific forecasts, coupled with asset specific data, enable customers to safeguard people, assets and operations while minimising downtime, improving ESG performance, saving fuel and resources.
During EQT Private Equity’s ownership, StormGeo has transformed from a regional champion into a leading global provider of shipping — and weather-solutions, underpinned by a proprietary and automated data platform. Fuelled by global megatrends such as climate change and digitalisation, StormGeo has more than doubled revenues, EBITDA and number of customers, and the Company’s platform has been significantly strengthened through investments in digitalisation and six strategic add-on acquisitions. In 2018, StormGeo was elected a UN Global Compact Partner and has since proudly contributed to the Action Platform for Sustainable Ocean Business.
Read more at Private equity Wire
