Munters has signed an agreement to acquire Geoclima, an Italian manufacturer of air- and water-cooled chillers.
Terms of the deal weren’t disclosed, but will be fully financed through existing credit facilities and is expected to be completed in the second half of 2024.
Geoclima founder Paolo Ferraris, who has led the company as CEO for 30 years, will remain as managing director for at least the next 12 months.
"We are delighted to welcome Geoclima to the Munters family. This strategic acquisition allows us to accelerate our development of energy-efficient data center cooling solutions and strengthens our global offering," says Klas Forsström, president and CEO of Munters.
Founded in 1994, Geoclima offers a range of Turbocor compressor-powered chillers for data centers – including free-cooled and adiabatic systems.
Geoclima has sales offices in Italy, Spain, Great Britain, Australia, and the US, as well as production sites in Italy and Thailand.
The acquisition gives Munters access to chiller technology, which will be offered through the company’s Data Center Technologies (DCT) cooling portfolio.
"The addition of Geoclima’s technology and talent to DCT is truly exciting. Geoclima has a very similar DNA to Munters in that it focuses on more energy-efficient solutions and has the competence to tailor solutions to the customer’s needs. Through this acquisition, our range of comprehensive solutions for our customers becomes more complete," says Stefan Aspman, president of DCT and group VP, Munters Group.
Munters acquired Irish HVAC company EDPAC back in 2022, returning to the European data center space after previously closing its EMEA data center operations and manufacturing facility in Europe in 2019.
Other recent acquisitions:
– Private equity firm Madison River Capital has completed a $190 million recapitalization and $70 million equity investment in JDC Power Systems, an electrical systems integrator serving the data center market.
– Contracting services company Quanta Services has acquired Cupertino Electric, inc., an electrical infrastructure solutions provider to the technology, renewable energy and infrastructure, and commercial industries.
– Data center engineering, construction, and operation services company Ehvert Mission Critical is merging with engineering and technical services firm Salas O’Brien.
