Munters has signed an agreement to divest the FoodTech Equipment offering to Grain & Protein Technologies (GPT), owned by American Industrial Partners (AIP), for MEUR 97.5 (approximately BSEK 1.1) on a cash and debt free basis.
The announced divestment is in line with Munters strategy to achieve increased long-term value creation, with focus on selected segments in each business area. In the business area FoodTech, Munters has intensified its efforts in the field of digital growth with software, controllers, sensors and IoT, which from now will form the FoodTech business area. The announced divestment marks an important step in streamlining the operations within business area FoodTech.
“The sale of the Equipment business offering is an important move towards our goal of enhancing our focus on FoodTech digital solutions. The equipment business has a distinguished legacy in engineering, strong leadership, and committed staff. I am certain that GPT will be a very good owner for them in the next stage of their development,” says Klas Forsström, President and CEO of Munters.
The divestment includes five production facilities across Italy, Germany, China and US, one assembly hub in South Africa and three sales offices. Approximately 400 employees operating across Europe, North America, Middle East and Southeast Asia are part of this business, which manufactures and sells ventilation equipment for customers within livestock farming and greenhouses. The FoodTech Equipment offering includes fans, ventilation and cooling systems as well as production of CELdek (evaporative cooling pads), generating annual net sales of MSEK 1,925 and an adjusted EBITA of MSEK 226 in 2024.
Production and sales of the CELdek product line in Americas is excluded from the divestment and will be fully integrated into the business area AirTech, which would have added approximately MSEK 200 in annual net sales based on 2024 for the AirTech Americas region.
As of the first quarter 2025, the FoodTech Equipment offering will be carved out and reported as discontinued operations, the divestment will result in a capital loss of approximately BSEK 0.5. The divestment is anticipated to close during the first half of 2025, subject to regulatory approvals and other customary closing conditions.
GPT’s owner, AIP, is a US based private equity firm investing in industrial business serving domestic and global markets.
