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Munters acquires Hygromedia and Rotor Source

Nov 18, 2022 09:00

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.

For more information:

Investors and analysts
Ann-Sofi Jönsson, Head of Investor Relations and Enterprise Risk Management
ann-sofi.jonsson@munters.com, Tel: +46 (0)73 025 1005

Susann Johnsson, Vice President, Group Communications and Brand
susann.johnsson@munters.com, Phone: +46 (0)70 623 1474

About Munters Group
Munters is a global leader in energy-efficient air treatment and climate solutions. Using innovative technologies, Munters creates the perfect climate for customers in a wide range of industries. Munters has been defining the future of air treatment since 1955. Today, around 3,700 employees carry out manufacturing and sales in more than 30 countries. Munters Group AB reported annual net sales of more than SEK 7 billion in 2021 and is listed on Nasdaq Stockholm. For more information, please visit www.munters.com

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