Sept. 27, 2013: Modine Pursuing Acquisition of Barkell Limited
This Will Further Extend Modine’s Overall Business Offering in the HVAC Market
RACINE, Wis. — Modine Manufacturing Co. announced that it has entered into exclusive negotiations to acquire privately-held Barkell Limited, a manufacturer of custom built air handling units located in Consett, County Durham, United Kingdom. This acquisition, which Modine expects to facilitate through its Airedale U.K. subsidiary, will provide Modine with an expanded product offering in the air handling segment, further extending its overall business offering in the HVAC market. The deal is expected to close during the first quarter of 2014, and is subject to successful completion of due diligence and customary closing conditions. The terms of the anticipated deal were not disclosed.
Since its founding in 1981, Barkell has focused on the custom air handling market within the U.K.