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.