Racine-based Modine Manufacturing Co. announced that it has completed the acquisition of Surrey, B.C.-based Geofinity Manufacturing. The terms of the deal were not disclosed.
Modine said the acquisition will provide it with, "a full line of innovative geothermal heat pumps in both water-to- water and water-to-air models. Since its founding, Geofinity has emerged as a technology leader of residential and commercial geothermal heat pump systems." Geofinity products are used in a variety of residential, commercial and industrial applications, including single-family homes, condominiums, and schools. "The Modine brand is trusted by distributors, engineers, contractors and end users within the commercial HVAC market," said Matt McBurney, vice president of Modine's Commercial Products Group. "We are confident that the Geofinity acquisition will enable us to continue our strong focus on these same customers, with an added emphasis on the residential market. We are positioned to take advantage of the increasing shift to geothermal solutions, and continue demonstrating Modine's long-standing commitment to improving HVAC efficiency. We are looking forward to leveraging Modine's strength and breadth of products with Geofinity's to offer more solutions to our established network of distributors and applied products experts, and grow our business."