Modine Acquires Napps Technology, Expanding Product Offering In Strategic Indoor Air Quality Markets; No Financial Terms Disclosed
Portfolio Pulse from Happy Mohamed
Modine (NYSE:MOD) has acquired Napps Technology, a manufacturer of air- and water-cooled chillers, condensing units and heat pumps for the K-12 school market. The acquisition is part of Modine's growth strategy to expand its technology portfolio and improve indoor air quality in schools. Modine expects to generate between $6 million to $8 million in revenue this year from the acquisition and forecasts doubling that within two years.
July 06, 2023 | 1:48 pm
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Modine's acquisition of Napps Technology is expected to generate between $6 million to $8 million in revenue this year and double that within two years. This could potentially boost Modine's financial performance and stock price.
The acquisition of Napps Technology is in line with Modine's growth strategy and is expected to generate significant revenue, which could positively impact Modine's financial performance and, consequently, its stock price.
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