Munters has signed an agreement to acquire Geoclima, an Italian manufacturer of air- and water-cooled chillers. This acquisition completes Munters Data Center Technologies (DCT) cooling portfolio, enhancing Munters' ability to offer comprehensive solutions for the data center cooling market.
"We are delighted to welcome Geoclima to the Munters family. This strategic acquisition allows us to accelerate our development of energy-efficient data center cooling solutions and strengthens our global offering," said Klas Forsström, President and CEO of Munters.
The acquisition grants Munters access to critical chiller technology prevalent in today's data center cooling market. "Geoclima's focus on energy-efficient solutions and their ability to tailor solutions to customer needs aligns perfectly with Munters' values. This acquisition enriches our comprehensive solutions for customers," added Stefan Aspman, President of DCT and Group Vice President, Munters Group.
Geoclima’s revenue for FY 2023 was approximately MSEK 455 (MEUR 40.1). Established in 1994, the company employs 165 people and is headquartered in northeastern Italy, with sales offices in Italy, Spain, Great Britain, Australia, and the US, and production sites in Italy and Thailand. Founder Paolo Ferraris will remain as Managing Director for at least a year to ensure a smooth transition.
The acquisition is set to close in the second half of 2024, pending restructuring of Geoclima’s legal entities and customary closing conditions in Italy. The purchase will be financed through Munters' existing credit facilities.
