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Munters Group
Data Center Technologies ~45% of SEK 15.5B sales; AI cooling is the FY2025 growth engine
HQ SE
Recent Business Signals
Jun 11, 2026
partnership
Munters joined the Energy Efficiency Movement as an Active Mover.
source: funding-research
Jun 11, 2026
partnership
Munters joined the Energy Efficiency Movement as an Active Mover on June 11, 2026.
source: funding-research
Jun 2, 2026
acquisition
Munters acquired OPTIfarm on June 2, 2026, for an undisclosed amount.
source: funding-research
Apr 1, 2026
customer_win
Munters won a BSEK 2.0 order (approx. €17.5M) for a modular AI cooling solution from a US colocation data center provider, including custom CDUs and CRAHs for an AI factory build-out, with deliveries expected early 2027–Q1 2028.
source: funding-research
Funding & valuation history
Jun 2, 2026 · funding-research
Munters acquired OPTIfarm on June 2, 2026, for an undisclosed amount.
Jan 1, 2026 · funding-research
Munters paid MUSD 18.5 in contingent consideration to sellers of prior acquisition MTech, fully accrued by end of 2025.
Strategic Position
What they do best
Air-side climate handling at hyperscaler scale, now the group's largest business area at ~SEK 7B (~45% of SEK 15.5B FY2024 sales) per signal f54015d3.
Their bet
Riding the air-to-liquid/CDU transition for high-density AI racks while keeping European hyperscaler air-side incumbency, per the liquid-shift demand cited in signals 9b575cde and 9bfe2c49.
Top risk
~45% revenue concentration in Data Center Technologies means a hyperscaler capex pause or faster-than-expected loss of liquid/CDU share to Modine/nVent would visibly stall the double-digit DCT growth in the next 1-2 interim reports.
Compared to peers
Direct competitor
Modine Manufacturing
Modine pivoted auto-thermal into datacenter CDU + chillers (US-centric); Munters leads air-side handlers with stronger European hyperscaler exposure.
Substitute
CoolIT Systems
CoolIT is a pure direct-to-chip liquid specialist with server-OEM ties; Munters substitutes a combined air + liquid/CDU offering rather than chip-level focus.
Why someone would join
- 1.Join the growth core: Data Center Technologies is the largest business area (~SEK 7B, ~45% of ~SEK 15.5B FY2024 sales) and remained the primary growth engine through the FY2025 year-end report (signal 9bfe2c49, 2026-02-06).
- 2.Active scaling into the liquid/CDU transition: five reqs Feb-May 2026 spanning engineering, product and a Sales Director (2026-04-09) plus Product Manager, Data Center Technologies (2026-05-06).
Recent Hiring (60 days)
- product management1
- data center cooling1
- go-to-market1