June 13, 2012: Modine Agrees to Acquire Geofinity Manufacturing
RACINE, Wis. — Modine Manufacturing Co. announced that it has signed a definitive asset purchase agreement to acquire privately-held Geofinity Manufacturing of Surrey, British Columbia. Modine said this acquisition will provide it with a full line of geothermal heat pumps in both water-to-water and water-to-air models. The deal is expected to close by mid-summer, and is subject to customary closing conditions. Terms of the deal were not disclosed.
Geofinity supplies residential and commercial geothermal heat pump systems. The company won a 2012 AHR Innovation Award in the Building Automation Category for its “ORB” heat pump controller.