Modine has entered an agreement to sell three of its German businesses to Regent LP as part of its strategy to focus on higher-margin technologies and align with the evolving automotive market.

Information on the Target

Modine has announced a definitive agreement to divest three of its businesses located in Germany to affiliates of Regent LP. These businesses are situated in Neuenkirchen, Pliezhausen, and Wackersdorf, and focus on producing components for internal combustion engines. The sale is expected to be finalized in the upcoming weeks, subject to regulatory approval.

These operations specialize in manufacturing exhaust gas recirculation coolers, radiators, and charge air cooler modules for the European automotive sector. In the fiscal year 2023, these businesses generated combined revenues ranging from $80 to $90 million.

Industry Overview in Germany

The automotive industry in Germany is one of the largest and most competitive in the world. It is known for its advanced engineering, innovation, and quality manufacturing, making it a hub for both traditional com