Alfa Laval has completed the acquisition of StormGeo

Rhea-AI Summary

Alfa Laval has finalized the acquisition of StormGeo for MNOK 3,630, enhancing its capabilities in weather intelligence and digital services for the marine industry. This cash-financed purchase, neutral to Alfa Laval's EBITA margin and earnings per share, positions the company to improve operational efficiency and safety for its customers. Founded in 1997, StormGeo generated MNOK 714 in sales in 2020 and operates globally, focusing on sustainable business decisions. The acquisition aligns with Alfa Laval's commitment to responsible growth and environmental stewardship.

Positive

• Acquisition of StormGeo enhances Alfa Laval's capabilities in weather intelligence and digital services.
• Transaction is neutral to Alfa Laval's EBITA margin and earnings per share.
• StormGeo's services will help customers improve operational efficiency and safety.

Negative

• None.

LUND, Sweden, June 1, 2021 /PRNewswire/ -- 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.

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.

www.stormgeo.com

This is Alfa Laval

Alfa Laval is a world leader in heat transfer, centrifugal separation and fluid handling, and is active in the areas of Energy, Marine, and Food & Water, offering its expertise, products, and service to a wide range of industries in some 100 countries. The company is committed to optimizing processes, creating responsible growth, and driving progress to support customers in achieving their business goals and sustainability targets.

Alfa Laval's innovative technologies are dedicated to purifying, refining, and reusing materials, promoting more responsible use of natural resources. They contribute to improved energy efficiency and heat recovery, better water treatment, and reduced emissions. Thereby, Alfa Laval is not only accelerating success for its customers, but also for people and the planet. Making the world better, every day.

Alfa Laval has 16,700 employees. Annual sales in 2020 were SEK 41.5 billion (approx. EUR 4 billion). The company is listed on Nasdaq Stockholm.

www.alfalaval.com

For more information please contact:
Johan Lundin
Head of Investor Relations
Alfa Laval
Tel: +46 46 36 65 10
Mobile: +46 730 46 30 90

Eva Schiller
PR Manager
Alfa Laval
Tel: + 46 46 36 71 01
Mobile: +46 709 38 71 01

 

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https://news.cision.com/alfa-laval/r/alfa-laval-has-completed-the-acquisition-of-stormgeo,c3358539

The following files are available for download:

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PR_StormGeo_closing_ENG_210601_F

 

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SOURCE Alfa Laval

FAQ

What is the significance of Alfa Laval's acquisition of StormGeo?

The acquisition is significant as it enhances Alfa Laval's capabilities in weather intelligence and digital services for the marine industry, allowing for improved operational efficiency and safety.

How much did Alfa Laval pay for StormGeo?

Alfa Laval acquired StormGeo for MNOK 3,630, which is about MSEK 3,700, fully financed through cash.

What were StormGeo's sales figures in 2020?

StormGeo reported total sales of MNOK 714 (MSEK 699) in 2020.

Will the acquisition impact Alfa Laval's earnings?

The acquisition is neutral to Alfa Laval's EBITA margin and earnings per share, meaning it will not adversely affect its financial performance.

What does StormGeo offer to its clients?

StormGeo provides weather information services that help clients mitigate risks, enhance safety, and make sustainable choices in their operations.