Alfa Laval to acquire the digital service company StormGeo
Alfa Laval has just signed an agreement to acquire 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 decarbonize and make operations more efficient. It will also enhance Alfa Laval’s knowledge of digital services. The closing is expected during Q2 2021.
Ellex in Lithuania working alongside ADVOKATFIRMAET BAHR AS has advised Alfa Laval on Lithuanian law matters and performed the due diligence process of StormGeo subsidiary in Lithuania. The client was advised by Ellex in Lithuania managing partner Rolandas Valiunas, senior associates Laura Paulaitė and Nerijus Patlabys and associates Jomilė Žabolė and Paulius Vaitkevičius.
The purchase price is fully financed via cash and amounts to MNOK 3,630 (~ EUR 363M) on a debt and cash-free basis.
About Alfa Laval: Alfa Laval is a world leader in heat transfer, centrifugal separation and fluid handling 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 – always going the extra mile to support customers in achieving their business goals and sustainability targets.
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.