Nordic Capital Fund VII acquires Munters
Nov 09, 2010
Nordic Capital Fund VII acquires Munters - a global
leading provider of energy efficient solutions for air
treatment
Nordic Capital VII Limited ("Nordic Capital Fund VII") has
acquired Munters AB ("Munters") through a recommended public tender
offer. On 29 September, Cidron Intressenter AB, a company
indirectly wholly owned by Nordic Capital Fund VII, announced a
recommended offer to the shareholders in Munters, listed on Nasdaq
OMX Stockholm. The initial offer of SEK 73 in cash per share was
later increased to SEK 77 in cash per share. The offer was
successfully completed on 5 November, at an acceptance level of
97.6 per cent.
"Nordic Capital has extensive experience from successfully
carrying out growth strategies and we will, together with Munters'
management and employees, continue Munters' acquisition and
expansion strategy", says Joakim Karlsson, Managing Partner, Nordic
Capital.
"In Nordic Capital Fund VII, Munters gets a strong and long-term
owner, with a clear industrial focus. I firmly believe they can
support our ongoing strategy and vision to be a global leading
supplier of energy-efficient solutions for air treatment", says
Lars Engström, President and CEO of Munters.
Munters, founded in 1955 by the Swedish inventor Carl Munters,
is a global leader in energy efficient air treatment solutions
based on expertise in humidity and climate control technologies.
The company has two product divisions focused on industrial-process
air treatment, comfort-oriented climate control and climate control
for the AgHort industry, with about 2,100 employees in more than 30
countries.
"Nordic Capital Fund VII intends to maintain Munters' long term
strategic aim through active ownership, including support to expand
the two divisions and further develop the company's strategic
vision. This will be easier to achieve under private stewardship
that can take a more long-term view than the public equity market",
says Joakim Karlsson.
For more information, please contact:
Mikael Widell, Communications Manager
+46 8 440 50 70
+46 703 11 99 60
About Munters
Munters is a global leading provider of energy efficient
solutions for air treatment based on expertise within humidity and
climate control technologies. Munters is organised in two divisions
(continuing operations): Dehumidification and HumiCool.
Dehumidification manufactures products and complete solutions for
moisture control and HumiCool manufactures products and solutions
for evaporative cooling and humidification. The company has
customers in several segments including the food, pharmaceuticals,
and electronics industries. Munters has approximately 2,100
employees. The turnover for the continuing operations of Munters
amounted to approximately SEK 3.8 billion in 2009 and the operating
profit amounted to SEK 263 million. www.munters.com
About Nordic Capital Private Equity Funds
Since the start in 1989, Nordic Capital Private Equity Funds
have invested in large and medium sized companies, primarily in
Northern Europe. Through committed ownership and by targeting
strategic development and operational improvements, Nordic Capital
creates value in its investments. The funds invest in companies in
Northern Europe and in selected investment opportunities
internationally. They are based in Jersey, Channel Islands, and are
advised by the NC Advisory companies in Sweden, Denmark, Finland,
Norway, Germany and the UK. Additional information about Nordic
Capital is available through its corporate website, www.nordiccapital.com.
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