Modine Announces Executive Changes to Support Luvata HTS Acquisition
Matt McBurney named to newly created position of vice president – Luvata HTS integration lead
RACINE, Wis. — Modine Manufacturing Co. has announced changes to its executive organization in response to its acquisition of Luvata Heat Transfer Solutions (HTS).
Modine previously announced that it entered into a definitive agreement to acquire Luvata HTS, a leading global manufacturer of coils, coolers, and coatings for the HVACR and industrial markets. Modine said the acquisition leverages its heat transfer expertise and global presence, broadens its customer base and reduces cyclical exposure, expands margin and growth profile, and delivers immediate accretive value to earnings per share (EPS) before the expected benefit of cost synergies.
To ensure a seamless integration of Luvata HTS into Modine’s business framework as well as ensure continuity within Modine’s existing businesses, the company has made the following changes to its executive management:
Matt McBurney will assume the newly created position of vice president – Luvata HTS integration lead. McBurney will manage the Integration Management Office (IMO) with overall accountability for establishing the integration office, developing detailed plans specific to all functional areas of the integration, managing the end-to-end synergy identification and capture process, and acting as the primary Modine point of contact for the Luvata HTS global organization. Additionally, he will provide communication within Modine and any needed linkage back into Modine’s vehicular and Building HVAC businesses. Lastly, he will provide steering and guidance to the IMO and functional teams, assure proper resources are in place, and provide daily executive-level oversight and direction for the integration of HTS.
McBurney joined Modine in 1992 and has progressed through a series of positions with increasing responsibility from engineering, operations, and business management through his most recent position, vice president, Building HVAC.
Scott Miller has been promoted to the position of vice president, Building HVAC, replacing McBurney. Miller will assume responsibility for leading Modine’s global Building HVAC business segment. Miller has been at Modine for 17 years in a variety of positions with increasing responsibility, including operations director for Building HVAC and North America business units, and most recently, managing director of global operations.
For more information, visit www.modine.com.
Publication date: 9/13/2016