Nordic Capital sells its remaining shares in Munters Group AB after a successful transformation
February 13 2020
Nordic Capital has agreed to sell its remaining shares in Munters, a global leader in energy efficient air treatment and climate solutions. Under Nordic Capital’s ownership, Munters has gone through significant transformative change, positioning the company for sustainable growth in end-markets driven by secular growth trends.
On February 13, 2020, Nordic Capital received and accepted a bid to sell all of its remaining shareholding of 14.7% to a group of long-term institutional investors . Part of the transaction involves a condition around competition clearance which Nordic Capital is confident to be satisfied. Following this sale of shares, Nordic Capital no longer owns any shares in Munters.
Nordic Capital acquired a majority stake in Munters in 2010 through a recommended public tender offer and the company was consequently delisted the same year. Munters Group AB was re-listed on NASDAQ OMX Stockholm in May 2017 and Nordic Capital remained one of the largest shareholders in the company until this final sell down.
During the ownership period, Nordic Capital has supported Munters’ successful journey in strengthening its position as a global industry leader in energy-efficient and sustainable air treatment solutions. The company has been transformed, both operationally but also through several value-adding bolt-on acquisitions, portfolio optimisation and re-organisation into a leaner and more focused structure with only two business areas: AirTech and FoodTech. Munters has grown from 2,100 employees and revenues of SEK 3,8 billion (2009) to today’s 3,100 employees and revenues of SEK 7,1 billion (2019).
“The Company has developed strongly during Nordic Capital’s ownership period. Now, with a new experienced management team in place, Munters is well positioned to continue deliver on its strategy and for further growth. It is now time to hand over the ownership as Munters continues its journey,” says Andreas Näsvik, Partner and Head of Industrial & Business Services, Nordic Capital Advisors.
Munters has been developing new solutions for air treatment since 1955. By using innovative technologies, Munters creates the perfect climate for customers in a wide range of industries, the largest being the food, pharmaceutical and data center sectors. The company has an attractive product portfolio which helps customers around the world achieve their desired air quality through cutting edge technology solutions which are energy efficient, utilize limited water and support sustainable production processes.
Katarina Janerud, Communications Manager,
Nordic Capital Advisors
Tel: +46 8 440 50 50
About Nordic Capital
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, Industrials & 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 105 investments. The Nordic Capital vehicles are based in Jersey. They are advised by several non-discretionary sub-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