Scandinavian Private Equity investor EQT Mid Market acquires majority (57,5%) in INTPOW partner StormGeo, a leading global provider of software-based decision support for weather sensitive operations at sea.
The Strategy is to support StormGeo’s continued growth. As part of the transaction, EQT Mid Market will enter into a partnership with DNV GL, management and employee shareholders, who will remain significant minority shareholders.
“We are pleased to have EQT Mid Market as a new majority investor in the Company. EQT’s international standing and experience with global expansion, licensed based business models, both the offshore and the software sector and their extensive global network of Industrial Advisors will help support our continued growth internationally,” said Kent Zehetner, CEO of StormGeo.