By Paul Ziobro
Modine Manufacturing has signed a deal to buy AbsolutAire, which makes direct-fired heating, ventilation and make-up air systems, for an undisclosed amount.
Modine Chief Executive Neil Brinker said that acquisition adds another HVAC offering to customer looking for fit-for-purpose and sustainable air management systems.
It also gives Modine access to a broader customer based that in commercial, industrial, food service and warehousing application.
AbsolutAire had about $25 million in revenue last year. The deal is expected to close April 1, after which AbsolutAire will be integrated into Modine's Heating and Schools IAQ product group within its Climate Solutions segment.
Write to Paul Ziobro at paul.ziobro@wsj.com
(END) Dow Jones Newswires
March 11, 2025 16:39 ET (20:39 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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