Modine (MOD) announced that it had entered into a definitive agreement to acquire L.B. White, a global provider of specialty heating solutions for the agriculture, construction and special event industries. Modine expects the transaction to close May 31, 2025, subject to customary closing conditions. L.B. White expects to report revenue of $73.5M for their fiscal 2025 year ending May 31. Total consideration for the transaction is based on an enterprise value of approximately $112M. Management expects this acquisition to be immediately accretive to earnings and anticipates generating incremental growth and future cost savings through capturing synergies and deploying Modine’s 80/20 operating model. Upon close, L.B. White will be integrated into Modine’s HVAC Technologies product group and the current leadership team will remain in place.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MOD:
- Modine Manufacturing’s Record Earnings and Future Outlook
- Modine price target raised to $121 from $114 at Oppenheimer
- Optimistic Buy Rating for Modine Driven by Strong Data Center Performance and Strategic Positioning
- Modine Manufacturing’s Growth Strategy: Navigating Risks in Acquisitions and Dispositions
- Modine Manufacturing Reports Strong Fiscal 2025 Results
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue