Nordic Capital announces intention of acquisition of Munters in a $880M deal.

Nordic Capital, the Stockholm, Sweden-based private equity group, announced its intention to buy Munters, the Swedish engineering group, in a SEK 5.78bn ($880M) deal.

The deal, done through Nordic Capital Fund VII, was completed on November 5, 2010, after a recommended public tender offer that was presented on September 29, 2010.

Cidron Intressenter AB, a company indirectly wholly owned by Nordic Capital Fund VII, announced a recommended offer to the shareholders in Munters, listed on Nasdaq OMX Stockholm. The initial offer of SEK 73 in cash per share was later increased to SEK 77 in cash per share. The offer was successfully completed on 5 November, at an acceptance level of 97.6 per cent.

Munters, founded in 1955 by the Swedish inventor Carl Munters, is a global leader in energy efficient air treatment solutions based on expertise in humidity and climate control technologies. The company has two product divisions focused on industrial-process air treatment, comfort-oriented climate control and climate control for the AgHort industry, with about 2,100 employees in more than 30 countries.