Strategic acquisition brings Modine desiccant dehumidification technology and additional capacity for critical process air handling systems
RACINE, Wis., July 1, 2025 -- Modine (NYSE: MOD), a global leader in thermal management technology and solutions, announced the acquisition of Climate by Design International (CDI), a Minnesota-based manufacturer specializing in desiccant dehumidification technology and critical process air handlers. This strategic acquisition builds on Modine's capabilities in specialty commercial indoor air quality (IAQ) solutions, broadening the company's ability to serve a wider range of customer needs.
"Acquiring CDI advances our strategy to grow our Commercial IAQ business with fit-for-purpose solutions," said Neil D. Brinker, President and CEO of Modine. "CDI brings deep expertise in desiccant-based dehumidification and a strong reputation for engineering excellence. Combined with our acquisition of Napps Technology in 2023 and Scott Springfield in 2024, CDI's technology expands Modine's Commercial IAQ product portfolio to new markets."
CDI's specialized technologies provide critical humidity control in low-temperature environments such as pharmaceutical manufacturing and healthcare, filling a gap in Modine's existing Commercial IAQ product portfolio. The acquisition also gives Modine access to new end markets in food processing, cold storage, battery manufacturing, and ice arenas, and additional manufacturing capacity in the U.S. for air-handling systems.
"We're focused on delivering HVAC solutions that not only meet today's performance standards but also anticipate tomorrow's environmental and operational demands," said Eric McGinnis, President of Climate Solutions at Modine. "CDI's desiccant-based technologies are a powerful addition to our portfolio, enabling us to meet customer needs for precise humidity control and air handling manufacturing capabilities. This acquisition enhances our ability to deliver integrated, high-performance systems to customers in healthcare, industrial, and food processing markets, sectors where Modine is expanding."
Management expects CDI to be accretive to earnings before synergies, while also driving incremental growth through deployment of Modine's 80/20 operating model. CDI will be a part of Modine's comprehensive Commercial IAQ portfolio. Oppenheimer & Co. Inc. served as exclusive financial advisor to Modine. More information about the transaction is available on Modine's Investor Relations website.
About Modine
For more than 100 years, Modine has solved the toughest thermal management challenges for mission-critical applications. Our purpose of Engineering a Cleaner, Healthier World™ means we are always evolving our portfolio of technologies to provide the latest heating, cooling, and ventilation solutions. Through the hard work of more than 11,000 employees worldwide, our Climate Solutions and Performance Technologies segments advance our purpose with systems that improve air quality, reduce energy and water consumption, lower harmful emissions, enable cleaner running vehicles, and use environmentally friendly refrigerants. Modine is a global company headquartered in Racine, Wisconsin (U.S.), with operations in North America, South America, Europe, and Asia. For more information about Modine, visit modine.com.
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