Modine has entered into an agreement to sell three German-based businesses to Regent LP as part of its strategy to focus on high-margin technologies in the automotive sector.

Target Information

Modine (NYSE: MOD), a prominent global enterprise in thermal management technology and solutions, has announced a definitive agreement to sell three of its businesses based in Germany to affiliates of Regent LP. These operational facilities are located in Neuenkirchen, Pliezhausen, and Wackersdorf, where they specialize in the production and servicing of components for internal combustion diesel and gasoline engines in the European automotive sector. The completion of the sale is anticipated within the next few weeks, pending regulatory approval.

In the fiscal year 2023, the combined revenue for these businesses was estimated to be between $80 million and $90 million. The key products manufactured by these facilities include exhaust gas recirculation coolers, radiators, and charge air cooler modules, all essential for automotive internal combustion engine applications in Europe.

Industry Overview in Germany

The automotive industry in Germany remains one of the strongest and most influential sectors in the European economy. Germany is known for its advanced engineering and high-quality manufacturing, with domestic and international players investing s