Modine completes ~$65M acquisition of Climate by Design International, realigns segments

MODINE MANUFACTURING CO

~$65M cash purchase of desiccant-based dehumidification and air handling firm; expected FY26 revenue $45M.
Acquisition multiple below 10x EV/FWD EBITDA, accretive to EPS; pro forma net leverage ~1.1x.
CDI serves ice arenas, food processing, battery cell manufacturing; strengthens Commercial IAQ portfolio to >$100M.
Performance Technologies re-segmented into Heavy-Duty Equipment and On-Highway Applications; Advanced Solutions (EV) now in On-Highway.
Climate Solutions re-segmented into Heat Transfer Solutions, HVAC Technologies, Data Centers; Commercial IAQ moved to HVAC Technologies.

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