Munters set to acquire Geoclima
20th July 2024
SWEDEN/ITALY: Pioneering Italian chiller manufacturer Geoclima is set to be acquired by Swedish air treatment and climate solutions company Munters.
The signing of an acquisition agreement is seen by Munters as a key part of its strategy to expand into the data centre cooling market and broaden the product portfolio.
“This strategic acquisition allows us to accelerate our development of energy efficient data center cooling solutions and strengthens our global offering,” said Munters president and CEO Klas Forsström.
Headquartered in northeastern Italy, Geoclima achieved net sales of €40.1m in 2023. The privately owned company was established in 1994 and has sales offices in Italy, Spain, Great Britain, Australia and US as well as production sites in Italy and Thailand.
Geoclima was founded by Paolo Ferraris, who has operated the company as CEO for 30 years, will remain as managing director for at least the next year to ensure a successful transition.
From headquarters in Stockholm, Munters conducts operations in three business areas: commercial and industrial air treatment, data centre cooling and climate systems for livestock farming and greenhouses. It operates 22 production sites worldwide and achieved sales of €1,197m in 2023.
Closing of the acquisition will occur after a restructuring of the legal entities of the Geoclima group is completed and, subject to customary closing conditions, will be completed in the second half of this year.
