Munters acquires Edpac for €29m25th January 2022
SWEDEN: Munters, the Swedish air treatment and climate solutions business, has acquired Irish data centre cooling equipment and air handling systems manufacturer Edpac for €29m.
The acquisition is said to be part of Munters intention to grow its data centre business and strengthens its presence in Europe. It is already a leading player in the energy efficient data centre cooling solutions market in North America.
Formed in 1968, Edpac has two factories in Co Cork and its headquarters in Carrigaline. It has about 150 full time employees. Sales in the year ending April 2021 were €17m.
Edpac has a strong customer base with sales primarily in Europe with additional sales in the Middle East, South America and Asia.
“The European data centre market is a prioritised segment for Munters and the acquisition is a significant step in our growth strategy,” said Munters president and CEO Klas Forsström. “Our competences and experiences from the North American market will provide Edpac with opportunities for further profitable growth. We foresee synergies by expanding our data centre offering to Europe and by coordinating technology development and establishing unified processes.”
Edpac manufactures precision cooling equipment and various air handling systems and is also a manufacturing partner for Munters Oasis systems. Sales of Munters products represents approximately 7% of Edpac’s total revenues.