STOCKHOLM — Bus HVAC supplier Mobile Climate Control (MCC) has been acquired by VBG Group.

VBG Group is a Swedish publicly traded industrial company with brands in the global commercial vehicle industry.

Since 2007, Mobile Climate Control was owned by Swedish private equity firm Ratos. During that time, MCC grew to become a global HVAC supplier with annual sales of $150 million and more than 700 employees around the world.

“During this ‘journey’ we have established an efficient and well-invested manufacturing footprint, optimized our supply chain, and continuously invested around 4% of our annual sales in R&D,” Clas Gunneberg, president and CEO, wrote in a letter to customers.

In 2015, MCC opened a new facility in Mississauga, Ontario, to design and manufacture its own micro-channel aluminum heat exchangers, which are a core component for many of the company’s products.

In November, Gunneberg said Ratos had decided that “it’s time for a new owner to continue developing MCC.” Ratos sold 100% of its shares in MCC to VBG Group, which took ownership of MCC on Nov. 24.

VBG Group, headquartered in Vänersborg on the Swedish west coast, has annual sales of $150 million and 750 employees.

“VBG has a very long term focus and will together with MCC’s current management continue to develop MCC in line with our vision to be the leading global HVAC provider to the commercial vehicle industry," Gunneberg said.