Ethica Group advised MTA on its sale to Trane Technologies

Ethica Group M&A Advisory team assisted, Italian leader in the supply of solutions dedicated to process cooling, air conditioning and compressed air and gas treatment, already part of the Chequers Capital portfolio since 2020, in the sale of a majority stake to Trane Technologies, a European player specialized in the design, production, sale and assistance of innovative products and services for climate control for heating, ventilation and air conditioning (HVAC), refrigeration for transport and customized refrigeration solutions.

Founded in 1982 and based in Padua, MTA today manages two production plants. MTA products enjoy a solid reputation in the market thanks to their high quality, strong reliability, customization flexibility and high technological level. MTA’s broad product portfolio also ensures that it can fully satisfy the broadest customer needs.

MTA has managed over the years to develop an important international commercial presence, capable of reaching over 80 countries worldwide through 6 sales companies covering 4 continents. In order to maximize its geographical coverage, MTA has established strong long-term relationships with major distributors worldwide. In 2022, MTA recorded sales of over €100 million, of which 87% were exports.

Philippe Guérin, Managing Partner o Chequers Capital , commented: “MTA has achieved outstanding results thanks to its strong industrial know-how, sustained innovation, commercial dynamism supported by high quality managers and the perfect execution of the value creation plan. MTA today represents a real success story. We believe Trane Technologies is the ideal partner to continue its development with significant product and geographic complementarities and are confident that MTA’s strong growth trajectory will continue successfully under the new ownership.”