StormGeo Group has acquired ImpactWeather
StormGeo Group has acquired ImpactWeather, Inc. from Universal Weather and Aviation, Inc.
Houston/Bergen 16th of May 2012:
The Norwegian weather company, StormGeo Group AS, has, as part of a strategic move into the US market for meteorology and weather related services, acquired all outstanding shares of ImpactWeather, Inc. from Universal Weather and Aviation, Inc. in a cash transaction. The combined size will propel StormGeo Group into a world leading position in global weather services, focused on the upstream and downstream energy industry, with significant relationships with other offshore and onshore businesses. The combined Group will cover all geographic areas in the world on a 24/7 basis.
ImpactWeather, Inc. is located in Houston, and has, over the last 15+ years, built an outstanding reputation and leading position in offshore and onshore weather monitoring, forecasting and alerting. They service the majority of major oil and gas operators in the Gulf of Mexico and U.S. Gulf Coast. Their portfolio of clients also includes a diverse group of leading organizations in a wide range of industries: petrochemical, electric utilities, hospitality, healthcare, financial services, manufacturing, retail, and many others. The common denominator is companies who realize significant benefit from their expertise in site-specific early forecasting and aligning weather expertise and intelligence with business requirements.
StormGeo Group operates out of 12 offices in 9 countries. The acquisition of ImpactWeather will significantly expand the footprint of StormGeo in the US. Post acquisition, more than 65% of the revenues in the Group will be generated outside Scandinavia.
By combining geographic reach, competencies and product platforms, StormGeo Group will be able to further enhance its offering to industrial and commercial operators in key industries affected by harsh weather and changes in climate.
"By coordinating best practice meteorology solutions in the US with our strong R&D department, we will meet the demand of global industries that prefer one certified supplier and one product platform across all time zones. Key focus on the performance of each individual industrial entity or asset will allow customers to optimize their operational economics without sacrificing the ultimate focus on safety," stated Erik Langaker, Chairman of StormGeo.
"We are happy to have found a new partner with the same focus on quality and product development as ourselves. Outstanding performance within key areas like hurricane and offshore forecasting will add to our product offering around the globe. Mark Chambers and his experienced management team will ensure continuity with existing customers," stated Kent Zehetner, the CEO of StormGeo.
"There is a strong strategic and cultural match between StormGeo and ImpactWeather. By combining with StormGeo, we will be able to substantially increase our global footprint and offer the market a wide-ranging and robust set of products and services. We are extremely excited to be joining a strong company with significant capabilities and reach," stated Mark Chambers, President of ImpactWeather.
StormGeo engaged Wikborg Rein and Ewing & Jones as legal advisors in the transaction. Ernst & Young conducted financial and tax due diligence.
About StormGeo Group
Since 1998 StormGeo has developed into a global contributor of support systems and risk predictions within the meteorological sector. StormGeo holds a leading position in Scandinavia and the North Sea region, and is expanding rapidly in new geographical markets. The group provides services globally to sectors such as oil & gas, renewable energy, shipping, media and aviation. StormGeo has offices in Bergen, Oslo, Stavanger, Stockholm, Copenhagen, Aberdeen, Hamburg, Baku, Dubai, Rio and Houston.
Kent Zehetner, CEO, StormGeo Group, +47 918 13 762
Erik Langaker, Chairman, StormGeo Group, +47 976 94 555
Founded in 1995, ImpactWeather helps organizations worldwide more effectively fulfill their safety, security, operational and risk management missions through timely site-specific weather monitoring, forecasting and alerting. ImpactWeather serves a diverse client base, including organizations in the petrochemical, electric utility, retail, hospitality, banking and insurance industries. They are recognized as the leader in upstream and downstream energy sectors in the Gulf of Mexico and along the Gulf Coast. ImpactWeather is headquartered in Houston.
Mark Chambers, President, ImpactWeather, (877) 792-3220