Nordic Capital Fund VII acquires Munters
November 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
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
Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Core sectors are Healthcare, Technology & Payments, Financial Services and in addition, Industrial & Business Services and Consumer. Key regions are Northern Europe and globally for Healthcare. Since inception in 1989, Nordic Capital has invested more than EUR 14 billion in over 100 investments. The Nordic Capital vehicles are based in Jersey. They are advised by several advisory entities based in Sweden, Denmark, Finland, Norway, Germany, the UK and the US, any or all of which are referred to as Nordic Capital Advisors. For further information about Nordic Capital, please visit www.nordiccapital.com