Investment AB Latour has, through its business area Swegon AB, signed an agreement to acquire Walter Meier (Klima Deutschland) GmbH.
Walter Meier Klima Deutschland is today a subsidiary to the Swiss Walter Meier Group. The company has its headquarters in Munich and was founded in 1930 and has been part of Walter Meier Ltd since 1991. The acquisition is subject to approval by antitrust authorities and closing is expected in June.
The company employs 111 staff and reported a turnover of approximately EUR 37 million in 2012. The transaction is carried out at an enterprise value of EUR 16.5 million, which can be compared with the company´s EBIT result of slightly more than EUR 3 million during 2012.
“This is a very important acquisition for us”, Swegon CEO Hannu Saastamoinen said.
“We have a very good relationship with Walter Meier Klima today as they are our largest independent distributor in the chiller segment.
“They fit very well in to our expansion strategy in the cooling business and we are now looking forward to develop our cooperation further and continue to grow in Germany which is one of our prioritized markets.”