Walter Meier is continuing with its strategy of focusing on the core business of climate technology with the divesture of its Tools business.
An agreement was signed with a US-based private equity firm for its acquisition of the global Tools business.
The buyer and purchase price were determined in an auction process. The closing of the agreement is subject to various conditions, including contracts to be signed with financial lenders.
As in the past few years, organic and acquisition-driven growth in humidification, evaporative cooling, duct cleaning and radiant cooling will remain the main priority, the company said.