ShippingWatch

Extreme weather makes EQT believe in huge StormGeo growth

Private equity fund EQT has acquired a majority stake in Norwegian weather giant StormGeo, a company that supplies services for the shipping and offshore industry. Extreme weather conditions leads to confidence in annual growth rates of up to 17 percent.

Photo: Helge Hansen/Statoil

Norwegian weather giant StormGeo has entered an agreement with Swedish equity fund EQT, which has now become the majority stakeholder with 57.5 percent of the shares in the company. And the new owner has great ambitions, Jannik Kruse Pedersen, partner and investment advisor at EQT, tells ShippingWatch.

According to him, the company holds a strong global market position, a fact that was recently strengthened further with the acquisition of American AWT - a company that assists 5,000 ships every day - and this growth will continue at a high rate going forward:

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