Modine acquires Climate by Design International

Modine (MOD) acquired f Climate by Design International, or CDI, a Minnesota-based manufacturer specializing in desiccant dehumidification technology and critical process air handlers. CDI’s specialized technologies provide 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. 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.