StormGeo Group and its majority owner Reiten & Co Capital Partners VII


Wikborg Rein has assisted the StormGeo Group and its majority owner Reiten & Co Capital Partners VII with the acquisition of the California-based company Applied Weather Technology, Inc., and the equity financing and issue of Senior Secured Bonds.

StormGeo, a global provider of weather and asset risk management for the Offshore, Shipping, Renewable, Media and Aviation industries, has acquired all outstanding shares in Applied Weather Technology (AWT). This acquisition propels StormGeo into a leading position within decision support for weather sensitive operations in the shipping and offshore industries. AWT, headquartered in Silicon Valley, California, has 11 offices in 7 Countries. They have been a leader in marine forecasting for over 15 years, supporting more than 5,000 ships per day with routing guidance and operational efficiency.

Press release http://www.stormgeo.com/top-story?nyhet=48