Irish data centre and air-cooling systems manufacturer Edpac has been acquired in a €29 million deal.
The buyer is Munters, a Swedish air treatment and climate solutions business.
Founded in 1968, Edpac, which is headquartered in Carrigaline, employs 150 people across two facilities in Co Cork. The company recorded revenues of €17 million for the year ending April 2021 with earnings before interest, taxes, depreciation, and amortisation (ebitda) of €1.7 million.
Edpac manufactures precision cooling equipment and air handling systems and is also a manufacturing partner for Munters’ Oasis systems. Sales of the Swedish company’s products represent approximately 7 per cent of the Irish firm’s total revenues currently.
Managing director Noel Lynch has led Edpac since a buyout of the company from its Swiss parent in 1991.
The company’s customer base is primarily in Europe with additional sales in the Middle East, South America and Asia. Installations it has manufactured are installed in multiple hospitals in Ireland, in Pairc Ui Chaoimh, and at Doha Airport, the Hong Kong metro system and at the BBC.
Headquartered in Kista, Munters is a provider of energy efficient data centre cooling solutions in North America. It said the deal for Edpac further strengthens its presence in Europe.
Prioritised
“The European data centre market is a prioritised segment for Munters and the acquisition is a significant step in our growth strategy,” said Klas Forsström, president and chief executive of Munters.
“Our competences and experiences from the North American market will provide Edpac with opportunities for further profitable growth. We foresee synergies by expanding our data centre offering to Europe and by coordinating technology development and establishing unified processes,” he added.
Founded in 1955, Munters employs some 3,330 people in more than 30 countries. Listed on Nasdaq Stockholm, it recorded sales of more than 7 billion Swedish krona (€670 million) in 2020.
