Nordic Capital sells SEK 1.1bn share block in Munters

The sale reduces Nordic Capital's holding to 36.5% of the total share capital in Munters, following its listing in April 2017.

Nordic Capital placed the shares through an accelerated bookbuilding process to Swedish and international investors. Carnegie and Jeffries acted as joint bookrunners in connection with the sale.

Previous funding
Nordic Capital de-listed Munters at an enterprise value of SEK 6.5bn in October 2010. It re-listed the business on Nasdaq Stockholm with a market cap of SEK 10.1bn.

Company
Munters provides air treatment and climate control systems for companies operating in the food, pharmaceutical and data center sectors. It was founded in 1955 and has operations in 30 countries.

The company generated adjusted EBITDA of SEK 107m from sales of SEK 1.7bn for the first quarter of 2019.

People
Nordic Capital – Joakim Karlsson (managing partner).

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