USA, Wisconsin: Modine Manufacturing Co., a provider of thermal management technology and solutions, announced it has entered into a definitive agreement to acquire Luvata Heat Transfer Solutions (HTS), a U.S. manufacturer of transformer coolers and other products for the HVACR market.
The acquisition worth approximately $422 million is expected to be closed within calendar year 2016, subject to customary closing conditions, including regulatory review, reports ACHR News.
Luvata HTS is a U.S. manufacturer of heat exchanger coils, commercial refrigeration and industrial coolers, with anti-corrosion coating solutions. The company is also is a player in the power generation and transformer cooler markets with strong relationships with European OEMs.
Source: ACHR News