Munters Group AB (publ) (“Munters” or the “Group”) announces that it will explore a potential divestment of its FoodTech business area. Finding new ownership for FoodTech would enable Munters to accelerate the Group’s growth agenda around its Data Center Technologies (DCT) and AirTech businesses. It would also unlock substantial growth opportunities for FoodTech by giving it the backing to continue scaling.
Over the past decade Munters has grown FoodTech into a successful global business, operating under the commercial brand Speria. FoodTech is an industry leader with a unique platform in attractive, high-growth markets. It largely operates as a stand-alone business, with a customer base, go-to-market model and product portfolio that are distinct from the DCT and AirTech business areas, with limited operational overlap and synergies. The business area has reached a scale and maturity at which a dedicated owner is best placed to support its continued investment and growth, with greater flexibility and speed to realize its full potential.
Munters continuously evaluates its portfolio and strategic priorities to support long-term value creation. The divestment of FoodTech will support Munters in further strengthening its position as a global leader in mission critical climate control, sharpening its focus and ability to leverage structurally attractive growth segments in DCT and AirTech.
“FoodTech has developed into a high-quality business with strong customer relationships, differentiated solutions and attractive long-term market fundamentals. We are proud of what the team has built and believe FoodTech is well positioned to pursue its next phase of growth under ownership dedicated to its strategic priorities,” says Klas Forsström, President and CEO of Munters.
“A divestment will create a more focused Munters, enabling us to concentrate fully on the significant opportunities ahead in DCT and AirTech. With greater flexibility to allocate capital, management attention and resources to invest in our strategy, we will be well positioned to drive innovation, support our customers and deliver sustainable value for shareholders,” says Stefan Aspman, currently President of DCT and future President and CEO of Munters.
Munters will provide further updates on the progress of the potential divestment in due course and in accordance with applicable regulations. During this process, Munters will remain fully committed to FoodTech and its customers, employees and operations.
Evercore is acting as financial advisor to Munters in relation to the potential divestment of FoodTech.
