Walter Meier acquires US company Port-A-Cool

Following last year’s takeovers of JS Humidifiers and ML System, Walter Meier has taken an additional step forward in its long-term expansion strategy in the evaporative cooling sector with the purchase of Port-A-Cool. Comments CEO Silvan G.-R. Meier, “Given that we are the global leader in commercial and industrial air humidification, this further expansion into evaporative cooling is a natural step for us because both applications are based on the same technology.” In the US, Port-A-Cool is by far the leader in the growth market of portable evaporative cooling units.

Evaporative cooling works according to the same principle as sweating, whereby water evaporates off the skin and draws heat away from the body. That process requires only a fraction of the electricity consumed by traditional cooling methods, which are based on compression refrigeration systems, making it significantly more cost-efficient and environmentally sustainable.

Port-A-Cool recorded sales in 2011 of more than USD 70 million and currently has roughly 250 employees at its headquarters in Center, Texas. Founded in 1990, the company focuses on developing, producing and distributing portable evaporative coolers for business, industry and private households. Another core activity is the sale of paper-based evaporative cooling media, primarily in the field of poultry and pig farming. The current management team will continue to be responsible for running Port-A-Cool.

The global market for evaporative cooling is benefiting from the megatrends of energy efficiency and environmental sustainability. The market is expected to enjoy double-digit growth each year. Together with Port-A-Cool, Walter Meier intends to participate in this growth and gain additional market share. The focus will be on organic growth through the internationalization of Port-A-Cool’s business model coupled with the expertise and financial opportunities offered by Walter Meier. Further acquisitions, however, have not been ruled out.

Walter Meier has repeatedly expressed its desire to return to the path of long-term growth following a period of consolidation over the past few years during which the company concentrated primarily on sharpening its focus and increasing its efficiency. The takeover of Port-A-Cool is by far the most important step in this direction to date.

Contact
Walter Meier AG Bahnstrasse 24 8603 Schwerzenbach Tel. 044 806 41 41 group@waltermeier.com

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