With the acquisitions, Munters strengthens its position as a leading supplier of desiccant dehumidification technology systems for numerous industrial processes. These acquisitions provide Munters with an additional channel to market to serve it even better.
Hygromedia LLC is a manufacturer of desiccant dehumidification media, while Rotor Source Inc. is a supplier of rotors and cassettes to original equipment manufacturers (OEM).
“The acquisitions are in line with Munters’ strategy of strengthening its core business through organic and acquired growth. Hygromedia and Rotor Source are two new important pieces of the puzzle,” says Klas Forsström, President and CEO, Munters.
The demand for precise temperature and humidity control that desiccant dehumidification technology provides has grown significantly and Munters continues to expand its offering to the market.
“We are excited to welcome Hygromedia and Rotor Source and their employees into Munters. With these acquisitions, we will be able to serve our customers even better with an additional channel to market,” says Henrik Teiwik, Group Vice President and President, Business Area AirTech.
Hygromedia LLC specializes in components, supplying desiccant rotor manufacturers in the United States, Europe and Asia. Rotor Source Inc. provides desiccant dehumidification and energy recovery products to OEMs, mainly for heating, ventilation, and air conditioning (HVAC) systems. Customer segments include lithium-ion battery, pharmaceuticals, electronics, food processing, aerospace, among others.
Both companies are located in Baton Rouge, Louisiana, USA, and together have about 30 employees. 2021 revenue was MUSD 11.5 (approx. MSEK 125). The acquisitions will be accretive to AirTech’s EBITA-margin from the day of consolidation. The acquisition took place in November.