Chiller firm MTA acquired by Chequers Capital
ITALY: Italian chiller manufacturer MTA has been acquired by Paris-based private investment company Chequers Capital.
Established in Padua in 1982, MTA produces a range of industrial and commercial HVAC systems, with a focus on chillers and heat pumps with output ratings up to 1.7MW.
The company has customers in over 80 countries and subsidiaries in Germany, France, Spain, USA, Australia and Romania.
In 2018, MTA reported sales of €83.2m, of which 80% was for export.
MTA agreed sales terms with Bosch Thermotechnolgy in 2017 but the deal was never completed.
Chequers Capital is one of the leading European investors in private, mid-sized companies, with around €2.5bn funds under management.
Philippe Guérin, Chequers Capital’s MD, commented: “We believe that the company, with our support, will be able to enhance its presence in international markets, while maintaining its vocation to innovation both in their current market segments and in new products’ development.”
Marco Motton takes over as MTA’s CEO after six years as operations director. He said of the deal: “We foresee a stronger presence in our current reference markets during the next growth phase, which will allow us to be increasingly considered as the ideal partner for our customers.”