Munters has signed an agreement to divest division MCS to Triton
(Thomson Reuters ONE) -
Munters focuses on the core business and has therefore signed an agreement to
divest division MCS to Triton. The deal value and estimated cash flow effect
comprises cash payment and repayment of intra-group loans to a total value of
around SEK 1,300 M. Estimated impact on net profit is approximately SEK 650 M.
Division MCS is a global leader in damage restoration services. The business had
during 2009 net sales of SEK 2,768 M and 1,805 employees in 18 countries.
"After an intensive transformation phase within division MCS, a foundation has
been laid making it possible to take the next step in developing the damage
restoration business. Since the synergies between MCS and the other divisions
within Munters are limited, we believe that the next step in MCS development is
best taken outside Munters", says Lars Engström, CEO.
Completion of the transaction is conditional upon approval from the relevant
competition authorities, and Munters' fulfillment of the obligation to inform
and consult with relevant employee representative bodies in each country where
so is required.
The transaction is expected to be completed during Quarter 3, 2010. After the
divestment of MCS, Munters remaining businesses are focused on energy efficient
air treatment solutions based on expertise in humidity and climate control.
"Munters is now able to focus on the core business and the development of the
strong market position we have in our niches. There is growth potential in
several geographies and adjacent product areas, and the transaction reinforces
Munters growth capabilities, both organically and by acquisitions", continues
Lars Engström.
Due to the transaction, Munters quarterly report for January-September 2010 will
be published November 11 instead of October 27 as previously planned.
About Triton
Triton is a leading private equity firm focusing on investments in the Nordic
and German-speaking regions. Triton has more than 2.5 billion Euro in available
capital from Nordic and international investors. Triton has offices in
Stockholm, Frankfurt and London and its investment focus includes the business
services sector.
For more information, please contact:
Lars Engström, Chief Executive Officer
Tel: +46 8 626 63 03
lars.engstrom(at)munters.se
Martin Lindqvist, CFO
Tel +46 8 626 63 06
martin.lindqvist(at)munters.se
Andreas Olofsson, VP Corp. Communications
Tel +46 8 626 54 08
andreas.olofsson(at)munters.se
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- and pharma industries.
Manufacturing and sales are carried out via the Group's own companies in more
than 30 countries. The Group has close to 4,000 employees and net sales of about
SEK 6.5 billion. The Munters share is listed on NASDAQ OMX Stockholm, Mid Cap.
For more information please visitwww.munters.communters.com
Munters AB discloses the information provided herein pursuant to the Securities
Market
Act and/or the Financial Instruments Trading Act. The information was submitted
for
publication on June 30, 2010 at 08.00 am CET.
[HUG#1428380]
MCS to be sold to Triton: http://hugin.info/992/R/1428380/375778.pdf
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
All reproduction for further distribution is prohibited.
Source: Munters AB via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 30.06.2010 - 08:01 Uhr
Sprache: Deutsch
News-ID 23213
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