Modine Manufacturing to Acquire Scott Springfield MFG Inc.

Modine Manufacturing Company, through its wholly-owned subsidiary Modine Manufacturing (Canada) Ltd., has entered into a definitive agreement to acquire all outstanding shares of Scott Springfield MFG Inc. from Olympic International Agencies Ltd. The transaction is valued at approximately $191 million USD on a cash-free, debt-free basis and is expected to close before April 1, 2024.

“On February 23, 2024, Modine Manufacturing (Canada) Ltd. (the “Purchaser”), a wholly-owned subsidiary of Modine Manufacturing Company (“Modine”), entered into a Share Purchase Agreement (the “SPA”), by and among the Purchaser, Olympic International Agencies Ltd. (the “Seller Parent”), and Modine, pursuant to which the Purchaser agreed to purchase (the “Transaction”) from the Seller Parent of all the issued and outstanding shares in the capital of Scott Springfield MFG Inc. (the “Corporation”).”

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