MeteoGroup, Europe’s largest private sector weather business and wholly owned subsidiary of PA Group, has acquired mminternational (Europe) AG, a major Swiss-German weather company.
mminternational (Europe), formerly known as meteomedia, operates a media division and provides decision support systems for weather-critical industries such as energy, logistics and insurance.
As part of the agreement, MeteoGroup will also enter into a joint venture, mminternational (Asia) Ltd, to develop business opportunities in the Asian market, where both MeteoGroup and mminternational are already active.
MeteoGroup will expand its global operations to 14 countries making it one the largest weather companies in the world with almost 400 employees and combined turnover of more than €50 million.
Jennie Campbell, managing director of MeteoGroup, said: “We are delighted to be able to bring together two of the leading weather businesses in Europe, consolidating our position as one of the largest private sector weather companies in the world. The agreement to buy mminternational (Europe) is part of MeteoGroup’s long-term investment strategy, directly benefiting our customers with the addition of more skilled resource and an extended product portfolio.”
“ We are delighted to have completed this acquisition with the help of Regent Partners. The team, led by Dolf Campman, conducted a thorough search for suitable targets on a global basis to assist us in achieving our strategic objectives of consolidating our position as one of the largest private sector weather companies in the world. Regent was able to identify suitable targets, make the approaches and deliver a short list of potential acquisitions. Their extensive negotiations and transaction expertise played a fundamental role in this successful acquisition.”
Clive Marshall, Chief Executive, PA Group.
Regent Partners LLP acted as exclusive Corporate Finance advisor to PA Group