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 Laval’s strategy to support the marine industry’s efforts to make operations more efficient and will also enhance Alfa Laval’s 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 Laval’s EBITA margin and earnings per share.
StormGeo’s 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.
From 2018, StormGeo advanced decarbonization for its shipping customers by saving 2.1 million MT fuel, thereby reducing CO2 emissions by 6.2 million MT, or the equivalent of removing 1,342,000 cars from the road for one year…click here to read the full article