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.
Water use efficiency: Diminishing water quality, escalating costs; Lowering building energy use; Power for fire pumps
Building envelope and integration; Manufacturing industrial Q&A; NFPA 99; Testing fire systems
Labs and research facilities: Q&A with the experts; Water heating systems; Smart building integration; 40 Under 40 winners
Maintaining low data center PUE; Using eco mode in UPS systems; Commissioning electrical and power systems; Exploring dc power distribution alternatives
Protecting standby generators for mission critical facilities; Selecting energy-efficient transformers; Integrating power monitoring systems; Mitigating harmonics in electrical systems
Commissioning electrical systems in mission critical facilities; Anticipating the Smart Grid; Mitigating arc flash hazards in medium-voltage switchgear; Comparing generator sizing software
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.