Munters Group AB is exploring a potential divestment of its FoodTech business area as it seeks to accelerate growth around its Data Center Technologies and AirTech businesses.
The company said new ownership for FoodTech would also support further scaling of the business. FoodTech operates under the commercial brand Speria and has grown over the past decade into a global business within Munters.
According to Munters, FoodTech largely operates as a stand-alone business with a distinct customer base, go-to-market model and product portfolio compared with DCT and AirTech. The group said operational overlap and synergies with those business areas are limited.
Munters said a divestment would support its focus on mission critical climate control and strengthen its ability to pursue growth segments in DCT and AirTech. Evercore is acting as financial advisor to Munters in relation to the potential divestment.
“FoodTech has developed into a high-quality business with strong customer relationships, differentiated solutions and attractive long-term market fundamentals. We are proud of what the team has built and believe FoodTech is well positioned to pursue its next phase of growth under ownership dedicated to its strategic priorities,” said Klas Forsström, President and CEO of Munters.
“A divestment will create a more focused Munters, enabling us to concentrate fully on the significant opportunities ahead in DCT and AirTech. With greater flexibility to allocate capital, management attention and resources to invest in our strategy, we will be well positioned to drive innovation, support our customers and deliver sustainable value for shareholders,” said Stefan Aspman, currently President of DCT and future President and CEO of Munters.
