Munters has signed an agreement to acquire Geoclima, an Italian manufacturer of air- and water-cooled chillers.
Geoclima's product offering completes Munters Data Centre Technologies (DCT) cooling portfolio enhancing the company's ability to offer full solutions to the total data centre cooling market.
The acquisition of Geoclima is a key part of Munters strategy to expand into new markets and broaden the product portfolio, according to Munters president & CEO, Klas Forsstrom.
"This strategic acquisition allows us to accelerate our development of energy efficient data centre cooling solutions and strengthens our global offering," he said.
Through the proposed acquisition Munters gains access to chiller technology, which plays a critical role in the data centre cooling market today.
President of DCT and group vice president, Munters Group, Stefan Aspman, said Geoclima has a very similar DNA to Munters in that it focuses on more energy-efficient solutions and has the competence to tailor solutions to the customer's needs.
“Through this acquisition, our range of comprehensive solutions for our customers becomes more complete," he said.
Established in 1994, Geoclima is a privately owned company with 165 staff. The company has its headquarters in Italy with sales offices in Spain, Great Britain, Australia and the United States.
There are also production sites in Italy and Thailand.
Geoclima was founded by Paolo Ferraris who has operated the company as CEO for 30 years, he will remain as managing director for at least the next year to ensure a successful transition.
Closing of the acquisition is expected to be completed in the second half of 2024.
Munters Group is a global leader in energy-efficient air treatment and climate control solutions.