In 1955, Swedish entrepreneur Carl Munters founded the Munters Corporation based on his initial idea to develop an air conditioning system that used evaporative cooling and dehumidification. Munters launched its Moisture Control Services (MCS) in 1985.
MCS rapidly grew into a global business throughout the 1990s with a presence in more than 20 countries. Moisture Control Services operated in a high-volume, low-value business environment that relied on large numbers of people to deliver the service. As a result, MCS never reached the profitability expectations of the parent company.
In October 2010, the MCS division was divested from the Munters Group, and the Polygon Group was born. Wholly owned by Triton, a private equity firm, Polygon today has a strong growth agenda and a dedicated focus on property damage control. In 2012, Polygon made two strategically important acquisitions. One was the German property damage control company Vatro, which gave Polygon a significant presence in Germany and nearly doubled the size of the Polygon Group. The second acquisition was leading moisture control consultancy AK Konsult in Sweden.
Polygon strengthened its expertise in document restoration through the acquisitions of Rapid Refile in the US in 2012 and Harwell Technical Services in the UK in 2015. Other significant milestones include the issue of a 120 million Euro corporate bond in 2014, as well as the appointment of a new CEO, Erik-Jan Jansen, and the acquisition of Tinkler Bau in Austria the same year.
In 2015 Polygon acquires the Document Restoration company Harwell in the UK. In US Polygon made a strategy shift focusing on Climate Solutions and Document restoration. During the same year, the Polygon model is introduced in the organization and the new corporate website is launched.
In 2016 Polygon started the Polygon Academy, an internal leadership development program. During the same year Polygon also introduced the new business system Metrix and launched a new corporate Intranet. In Canada, we launched a Franchise model to expand our footprint. Polygon also successfully recapitalized a 60 million Euro tap issue under the existing bond.
In 2017 Polygon made six acquisitions in Sweden, Norway, and France adding a total of EUR 65 million sales and over 500 new members to the Polygon family of dedicated specialists. An additional two acquisitions in Denmark and Germany were signed at the end of 2017 and were closed at the beginning of 2018.
During 2018, Polygon completed six acquisitions with total yearly sales of EUR 46 million, of which Dansk Bygningskontrol accounted for EUR 29 million. In October Polygon appointed Axel Gränitz as new CEO.
In early 2019 Polygon acquired Tiedema in the Netherlands. The acquisition strengthened Polygon Netherlands' position in the areas of Leak detection and Temporary climate solutions. In March Polygon acquired Alvisa 24, one of the market leaders in Switzerland with 67 employees. The acquisition and establishment in Switzerland is an important strategic milestone for Polygon- well on track to also achieve market leadership in Switzerland.
Our roots serve us well as we continue to prevent, mitigate and control the effects of water, fire, and climate.