Alfa Laval to acquire StormGeo

Stockholm-listed Alfa Laval is to buy Bergen-based weather service provider, StormGeo, for about NOK 3,630 million (EUR 362 million) on a debt and cash free basis.

In a statement, Alfa Laval said that the acquisition would accelerate its digital services offering in the drive to decarbonise. StormGeo provides weather-centric services to more than 2,200 customers across a range of industries, including shipping and energy.

Extreme weather is now the single greatest cause of business disruption, the companies said. However, StormGeo’s weather services enable customers to safeguard people, assets and operations while minimising downtime, improving ESG performance, and saving fuel and resources, they noted.

Tom Erixon, president and CEO of Alfa Laval, commented: “The acquisition of StormGeo will be a strong addition to our toolbox of solutions that help our customers address the decarbonisation challenge in the industry. 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.”

The transaction is expected to close before the end of June.