Munters Acquires Des Champs Technologies
April 23, 2007
SAN ANTONIO - Munters has concluded an agreement to purchase U.S.-based Des Champs Technologies. The company acquired 100 percent of the shares in Entrodyne Corp., the holding company of Des Champs Technologies, for approximately $37 million in cash. The affect on Munters’ consolidated earnings per share is anticipated to be positive in 2007.
Located in Buena Vista, Va., Des Champs manufactures custom make-up air conditioning equipment for commercial buildings. Its expertise is in commercial and industrial heat exchangers, dehumidification, and indirect evaporative cooling. The company employs approximately 200 people, and the projected 2007 revenue is $38 million.
With this acquisition, Munters strengthens its position as a leading supplier of energy-efficient climate control solutions for commercial buildings. “Des Champs provides an exceptional fit with our Commercial Dehumidification Division,” said Mike McDonald, president of Munters Dehumidification Division. “This expansion aligns with our strategy as an innovation leader in energy-efficient indoor air quality solutions for our customers. It enhances our expertise in energy recovery and indirect evaporative cooling, where Des Champs holds a technology-leading position.
The combined business will accelerate growth through synergies in product integration, technology, and distribution. In addition, cost reductions in purchasing, manufacturing, and administration are anticipated. Des Champs’ present management team will remain.
For more information, visit www.deschamps.com.
Publication date: 04/23/2007