Munters has signed an agreement to divest FoodTech Equipment to Grain & Protein Technologies (GPT), which is owned by American Industrial Partners (AIP).
The announced divestment is in line with Munters strategy to achieve increased long-term value creation, with focus on selected segments in each business area.
Munters has intensified its efforts in the field of digital growth with software, controllers, sensors and IoT, which from now will form the FoodTech business area.
Munters president & CEO, Klas Forsström, said the sale of the Equipment business offering is an important move towards the goal of enhancing the company’s focus on FoodTech digital solutions.
He said the equipment business has a distinguished legacy in engineering, strong leadership, and committed staff.
“I am certain that GPT will be a very good owner for them in the next stage of their development,” Forsström said.
The divestment includes five production facilities across Italy, Germany, China and US, one assembly hub in South Africa and three sales offices.
Approximately 400 employees operating across Europe, North America, Middle East and Southeast Asia are part of this business, which manufactures and sells ventilation equipment for customers within livestock farming and greenhouses.
The FoodTech Equipment offering includes fans, ventilation and cooling systems as well as the production of CELdek (evaporative cooling pads).
Production and sales of the CELdek product line in Americas is excluded from the divestment and will be fully integrated into the business area AirTech.
The divestment is anticipated to close during the first half of 2025, subject to regulatory approvals and other customary closing conditions.
GPT's owner, AIP, is a US based private equity firm investing in industrial business serving domestic and global markets.