Modine Manufacturing Announces Agreement to Acquire LBW Holding Corp

Details

The transaction, expected to close by June 4, 2025, involves Modine's subsidiary, Tyrolean Holding Corp., merging with and into LBW Holding. The total purchase price is estimated at $112 million, subject to certain adjustments. Modine expects to fund the acquisition using a combination of cash on hand and its existing credit facility. The acquisition is expected to be accretive to Modine's earnings per share before synergies, with an estimated pro forma net leverage below 10x (EV/TTM EBITDA). The transaction is not subject to any financing conditions or regulatory approvals.

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About Modine Manufacturing Company

Modine Manufacturing Company, a prominent player in the industrial sector, specializes in thermal management solutions. Established in 1916 and headquartered in Racine, Wisconsin, Modine is dedicated to developing and manufacturing heat transfer products that serve a wide array of applications. These products include radiators, oil coolers, and HVAC components which are utilized across diverse industries such as automotive, commercial vehicles, building HVAC systems, and power generation. With a focus on innovation and sustainability, Modine addresses the increasing global demand for energy-efficient and environment-friendly heating and cooling systems. The company's extensive expertise and advanced engineering capabilities allow it to cater to both standard and customized solutions for clients worldwide, maintaining a significant presence in emerging and established markets. Modine's impact is substantial, as it supports critical sectors by providing products that ensure effective thermal management, thereby enhancing performance and safety standards in various applications. Through continuous investment in research and development, Modine Manufacturing Company strives to lead in thermal innovation and operational excellence, reinforcing its commitment to improving industrial energy efficiency and environmental performance.