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, Sweden, October 30, 2008
Lars Engström, Chief Executive Officer
Press release (pdf)