Clare Capital was the financial adviser to MetOcean on their partial sale to MetService.
MetService, the nation’s state-owned weather forecaster, paid $3 million for a 49 per cent stake in privately owned New Zealand oceanographic consultancy MetOcean Solutions, giving it a foothold in a market worth more than $10 million.
The purchase will allow Wellington-based MetService to expand its research capability and add customised oceanographic forecasting and consultancy expertise to its global offering. For MetOcean, the tie up enables it to expand internationally with an established partner.