Modine Manufacturing Company announced on March 11, 2025, that it entered into a definitive agreement to acquire AbsolutAire, a manufacturer of direct-fired heating, ventilation, and make-up air systems. The transaction is expected to close on April 1, 2025, subject to customary closing conditions.
AbsolutAire, based in Michigan, reported approximately $25 million in revenue for 2024. This acquisition will integrate into Modine's Heating and Schools Indoor Air Quality (IAQ) product group within the Climate Solutions segment.
The acquisition enables Modine to offer a more comprehensive suite of high-performance air quality solutions and gain access to a broader customer base in commercial, industrial, food service, and warehousing applications. These sectors present significant growth opportunities driven by increasing HVAC and air quality management requirements.
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