(RTTNews) - Modine (MOD) Tuesday said it agreed to buy AbsolutAire, a manufacturer of direct-fired heating, ventilation, and make-up air systems.
Modine expects the transaction to close April 1, 2025, subject to customary closing conditions.
"Acquiring AbsolutAire is in line with our strategy to expand our technology portfolio with differentiated solutions to capture opportunities in markets with strong tailwinds," said Neil Brinker, President and Chief Executive Officer of Modine. "Through this acquisition, we gain another top-tier HVAC offering to serve customers demanding fit-for-purpose and sustainable air management systems."
AbsolutAire is based in Michigan with 2024 revenue of approximately $25 million. Their direct-fired heating, ventilation, and make-up air systems enable Modine to offer a more comprehensive suite of high-performance air quality solutions.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
%20Stock%20Price%2C%20Quote%2C%20News%20%26%20History%20%7C%20Nasdaq&_biz_n=0&rnd=187539&cdn_o=a&_biz_z=1742625554010)
