Modine to acquire Luvata Heat Transfer Solutions for ~$422M

Modine Manufacturing entered a definitive agreement to acquire Luvata Heat Transfer Solutions, the largest independent producer of HVACR coils and coatings, for approximately $422 million financed via cash, debt, and Modine stock; close expected in 2016 subject to regulatory review.

“Modine Manufacturing Co., a leading provider of thermal management technology and solutions, announced it has entered into a definitive agreement to acquire Luvata Heat Transfer Solutions (HTS) for approximately $422 million, to be financed through a combination of cash, debt, and $25 million of Modine common stock.”

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