February 24, 2017
Industrials and Industrial Technology
GCA Altium advises Alcedo and management on the sale of MCS to Dantherm
GCA Altium acted as exclusive financial advisor to Italian Private Equity firm Alcedo SGR and management on the sale of Master Climate Solutions (MCS), a world-leading manufacturer of machinery for air processing, to Dantherm HVAC.
MCS, established in the early 2000s as the Italian subsidiary of the US-based parent company formerly known as Desa, is a global supplier of portable equipment for heating, dehumidification, cooling and ventilation, suitable for professional applications in a variety of industries (construction, industrial, agriculture, breeding, military, mining, events, emergencies etc.). MCS is the clear market leader in Eastern Europe and Russia, has a strong market position in Western Europe and is one of the most renowned players in China and the USA.
Dantherm is a market-leading Danish supplier of energy-efficient climate control solutions for customers across the globe. The company is backed by Procuritas, a Swedish private equity firm, which expects synergies from MCS’s integration into Dantherm that will create one of the largest specialized players in climate controlling solutions. The acquisition of MCS is a key milestone in the build-up strategy of Dantherm/Procuritas, following the 2016 acquisitions of Calorex Heat Pumps Ltd. in the UK and Schönmann AG in Switzerland.
Carlo Dawan, Managing Director at GCA Altium, said: “This transaction marks the third time that GCA Altium was retained as exclusive financial advisor to MCS’s shareholders on a sale process. We already advised Desa USA on the sale to Atlantis Capital Special Situation in 2009 and Atlantis on the sale to Alcedo in 2011. We were consequently able to build a trustful relationship with the company’s management and to provide profound knowledge of the market.”
This transaction underpins GCA Altium’s solid track record in the Industrials space, with 29 successfully completed transactions in this industry within the last two years.