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Munters Group — M&A Activity 2008
Oct 30, 2008
2945_rns_2008-10-30_75a770cc-9d5d-4388-9d16-1a6114a41f97.pdf
M&A Activity
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October 30, 2008, 6.30 PM (CET)
Acquisition of Belgium-based Toussaint Nyssenne completed
As of today (October 30), Munters owns Toussaint Nyssenne, manufacturer of energy efficient air-conditioning systems.
The acquisition is strategically important for Munters' Dehumidification Division and increases its market position on the European market for customized air-conditioning systems for offices, public buildings and industrial applications.
"The operations will be integrated with the Dehumidification Division's business and increase market potential through synergies within production integration, technology, distribution and other areas," says Lars Engström, CEO of Munters.
As previously announced Toussaint Nyssenne is based in Dison, Belgium and the purchase amount corresponds to the company's assessed enterprise value of SEK 76 M (EUR 7.7 M), according to current exchange rate less the company's normalized net debt position during 2008 until the closing date for the purchase. The acquisition is expected to have marginal impact on Munters' earnings per share for 2008. Munters is taking over about 120 employees.
Kista, October 30, 2008
Lars Engström, Chief Executive Officer
For more information, please contact:
Lars Engström, Chief Executive Officer Tel: +46 8 626 63 03 [email protected]
Jonas Samuelson, Chief Financial Officer Tel: +46 8 626 63 06 [email protected]
Andreas Olofsson, VP Corp. Communications Tel +46 8 626 54 08 [email protected]
This press release is also available on www.munters.com
Munters is a global leader in energy efficient air treatment solutions and restoration services based on expertise in humidity and climate control technologies. Customers are served in a wide range of segments, the most important being insurance-, utilities-, food-, pharma- and electronics- industries. Manufacturing and sales are carried out via the Group's own companies in more than 30 countries. The Group has over 4,000 employees and net sales of about SEK 6.3 billion. The Munters share is listed on OMX Nordic Exchange Stockholm, Mid Cap. For more information see www.munters.communters.com