Nordic Capital Said to Plan Air Treatment Firm Munters Sale

  • Private equity firm interviewing advisers for sale or IPO
  • Munters could fetch more than 1 billion euros in sale

Nordic Capital, the buyout firm focusing on Scandinavian acquisitions, is planning the sale of Swedish air treatment company Munters, according to people familiar with the matter.

The buyout firm is interviewing potential advisers this week for the process, which could fetch more than 1 billion euros ($1.1 billion), said the people, who asked not to be identified because talks are private. Nordic Capital is considering a sale as well as an initial public offering, the people said. A sale process is likely to kick off in the third quarter, they said.

Nordic Capital agreed to take Munters private in 2010 after outbidding Swedish industrial company Alfa Laval AB. Munters, which was founded in 1955 by Swedish inventor Carl Munters, makes humidity and climate control products and has about 2,700 employees in 30 countries and 5 billion kronor in sales ($606 million), according to its website.

A representative for Nordic Capital declined to comment.

Deals for companies in Sweden have surged this year, more than doubling in value to $14 billion, according to data compiled by Bloomberg. The largest deal is Mylan NV’s planned $7.2 billion purchase of Swedish pharmaceutical firm Meda AB.

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