Modine Acquires Napps Technology
July 6, 2023
Modine (NYSE: MOD) has acquired Napps Technology, a manufacturer of air- and water-cooled chillers, condensing units and heat pumps that serve the K-12 school market and similar applications. The acquisition expands Modine’s indoor air quality and small-tonnage chiller product portfolio, with manufacturing to continue in Longview, Texas, and Napps president Sam Neale joining Modine; Modine expects $6–8 million in revenue this year from the acquisition and forecasts that to double within two years.
- Buyers
- Modine
- Targets
- Napps Technology
- Industry
- Manufacturing
- Location
- Texas, United States
- Transaction Type
- Buyout
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