Modine Manufacturing to expand presence in heat pump market

Racine-based company acquires Geofinity Manufacturing of B.C.

06/01/2012


Racine, Wis.-based Modine Manufacturing Company will acquire privately-held Geofinity Manufacturing of Surrey, British Columbia. “This acquisition will provide Modine with a full line of innovative geothermal heat pumps in both water-to-water and water-to-air models,” company officials said in a press release. The deal is expected to close by mid-summer, 2012.

Geofinity extends Modine’s current geothermal heat pump product range beyond school-only applications to a wider market, one which has grown at a rate of nearly 15% annually, according to Tom Marry, Modine executive vice president and chief operating officer.

“Acquiring Geofinity helps us expand our offerings to the growing commercial HVAC business while extending our focus on the residential market,” Marry said. “We have seen – and expect more – growth from our Commercial Products Group and this acquisition will help us build further on this success.”

 “The Modine brand is trusted by distributors, engineers, contractors and end users within the commercial HVAC market,” said Matt McBurney, vice president of the commercial products group. “We see Geofinity as an extension of our well-established ideals to these same customers, with an added emphasis on the residential market. As such, we will be well positioned to take advantage of the increasing shift to geothermal solutions.”

Modine, with fiscal 2011 revenues of $1.4 billion, specializes in thermal management systems and components, bringing heating and cooling technology and solutions to diversified global markets. 



No comments
Consulting-Specifying Engineer's Product of the Year (POY) contest is the premier award for new products in the HVAC, fire, electrical, and...
Consulting-Specifying Engineer magazine is dedicated to encouraging and recognizing the most talented young individuals...
The MEP Giants program lists the top mechanical, electrical, plumbing, and fire protection engineering firms in the United States.
MEP Giants; MEP Annual Report; Mergers and acquisitions; Passive, active fire protection; LED retrofits; HVAC energy efficiency
Integrating electrical and HVAC systems; Tracking and conserving facility water use; Energy code advancements; The future of professional engineers
Control noise, vibration in building design: Tackling acoustics and design issues; High-performance building design; NFPA 99; Combined heat, power
Putting COPS into context; Designing medium-voltage electrical systems; Planning and designing resilient, efficient data centers; The nine steps of designing generator fuel systems
Designing generator systems; Using online commissioning tools; Selective coordination best practices
Understanding transfer switch operation; Coordinating protective devices; Analyzing NEC 2014 changes; Cooling data centers
As brand protection manager for Eaton’s Electrical Sector, Tom Grace oversees counterfeit awareness...
Amara Rozgus is chief editor and content manager of Consulting-Specifier Engineer magazine.
IEEE power industry experts bring their combined experience in the electrical power industry...
Michael Heinsdorf, P.E., LEED AP, CDT is an Engineering Specification Writer at ARCOM MasterSpec.
click me