ASSUMPTION, ILLINOIS, US — Grain & Protein Technologies (GPT), a global designer, manufacturer and marketer of equipment for grain storage and handling, seed processing and protein production, on June 3 said it completed its acquisition of Munters FoodTech Equipment, a global energy-efficient air treatment and climate solutions provider.
FoodTech Equipment produces fans, ventilation and cooling systems as well as CELdek (evaporative cooling pads) that are manufactured and sold within the livestock farming and greenhouse sectors. Production and sales of the CELdek product line in the Americas was excluded from the divestment. FoodTech Equipment has been selling and servicing Aerotech, Euroemme and Reventa branded products.
Munters, based in Kista, Sweden, said the divestment of its equipment business, first announced in February, includes five production facilities across Italy, Germany, China and the United States, one assembly hub in South Africa and three sales offices. About 400 employees operating across Europe, North America, Middle East and Southeast Asia are part of this business. The transaction was valued at about SEK1.1 billion ($114 million).
“GPT is committed to building upon the strong legacy of the Aerotech, Euroemme and Reventa brands to continue delivering best-in-class climate control and air treatment solutions for the agribusiness sector,” said Jacob Thomas, chief executive officer of GPT. “This investment in a heritage platform offers us a compelling opportunity to broaden our product portfolio and further strengthen our position in the protein segment, which is benefiting from long-term growth drivers such as lower feed costs, population growth, and rising per capita incomes.”
With headquarters in Assumption, Illinois, US, GPT is a privately held standalone business owned by American Industrial Partners, a US-based private equity firm. GPT was created following the acquisition last fall of the GSI, Cumberland, Automated Production (AP), Tecno and Cimbria brands from AGCO. GPT serves farmers and agribusiness managers in over 100 countries and currently operates 14 manufacturing facilities across North America, Brazil, Europe and Malaysia that employ more than 3,200 people.
“We are thrilled to welcome approximately 400 highly talented and dedicated Munters FoodTech Equipment team members around the world to the GPT family,” Thomas said. “Munters customers can expect the same high standards of quality and performance, with the same products, manufactured in the same facilities by the same people. Customers will continue to be solicited, serviced, and supported by the same sales channels and the same personnel.”
