Munters divests FoodTech Equipment offering

Munters AB (“Munters”) has signed an agreement to divest the FoodTech Equipment offering to Grain & Protein Technologies (“GPT”) for consideration of approximately SEK 1,1 billion on a cash and debt free basis.

Munters is a world leader in energy efficient air treatment and climate solutions. GPT is owned by the U.S. private equity firm American Industrial Partners (“AIP”), which invests in industrial businesses for local and global markets. The divested business manufactures and sells ventilation equipment for customers within livestock farming and greenhouses, and includes five production facilities in Italy, Germany, China and the United States, one assembly hub in South Africa, three sales offices, and approximately 400 employees globally.

The divestment is part of Munters’ effort to streamline FoodTech’s operations, focusing on the digital business solutions such as software, control units, sensors and IoT technology. The transaction is expected to reach closing in the first half of the year, and is subject to customary regulatory approvals.

Mannheimer Swartling advised Munters in the transaction.