The industry is already behind many of the services and products available in the UK – from electricity to cinemas – and from next spring, the BBC’s weather forecast will be added to the list.
The British broadcaster has announced that from spring 2017, MeteoGroup will replace the Met Office as the provider of weather forecasting services across TV, radio, web and mobile.
MeteoGroup is owned by the private equity firm General Atlantic, which acquired the business in 2013 for €190 million. It also provides weather information to other industries such as agriculture, insurance and shipping.
The contract is yet another sign of how ingrained private equity has become in day-to-day life in the UK. Buyout firms are backers of, among other things, clothing stores, shoe sellers, sandwich shops, cinemas, pet food makers and even electricity providers.
In 2013, FN reporter Becky Pritchard tried to go a week without using any private equity-owned products or services. You can see how she got on here.