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Slide #69. Modine Manufacturing Company — Barkell Limited
Modine Manufacturing Company (NYSE:MOD)
Modine Manufacturing Company (NYSE:MOD), a diversified global leader in thermal management technology and solutions, announced today it has entered into exclusive negotiations to acquire privately-held Barkell Limited, a manufacturer of custom built air handling units located in Consett (County Durham), United Kingdom. This acquisition, which Modine expects to facilitate through its Airedale UK subsidiary, will provide Modine with an expanded product offering into the air handling segment, further extending its overall business offering to the HVAC markets. The deal is expected to close during the first quarter of calendar 2014, and is subject to successful completion of due diligence and customary closing conditions. The terms of the anticipated deal were not disclosed.
Modine Manufacturing focuses on providing thermal management solutions. Co. is a provider of engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer vehicular applications. In addition, Co. is engaged in thermal management technology and solutions for sale into various commercial, industrial, and building heating, ventilating, air conditioning, and refrigeration markets. Co.'s product groups include powertrain cooling and engine cooling; coils, coolers, and coatings; and heating, ventilation and air conditioning. Co.'s segments are: Vehicular Thermal Solution, Commercial and Industrial Solutions, and Building HVAC Systems.
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