Modine Announces Agreement to Acquire AbsolutAire

Core Viewpoint - Modine has announced the acquisition of AbsolutAire, which will enhance its offerings in heating, ventilation, and air quality solutions, aligning with its strategy to expand its technology portfolio and capture growth opportunities in various markets [1][2]. Company Overview - Modine is a global leader in thermal management technology, with over 100 years of experience and a workforce of more than 11,000 employees worldwide [3]. - The company operates in multiple regions, including North America, South America, Europe, and Asia, focusing on improving air quality and conserving natural resources through its Climate Solutions and Performance Technologies segments [3]. Acquisition Details - The acquisition of AbsolutAire, expected to close on April 1, 2025, is valued at approximately $25 million in revenue for 2024 [2]. - AbsolutAire specializes in direct-fired heating, ventilation, and make-up air systems, which will complement Modine's existing HVAC offerings and allow for a more comprehensive suite of high-performance air quality solutions [2]. - The integration of AbsolutAire into Modine's Heating & Schools IAQ product group will provide access to a broader customer base across commercial, industrial, food service, and warehousing sectors, which are expected to experience significant growth due to stricter HVAC and air quality management requirements [2].