Modine Manufacturing Company (NYSE:MOD) entered into a definitive agreement to acquire Scott Springfield Mfg. Inc. on February 23, 2024. The total consideration for the transaction is based on an enterprise value of approximately CAD 260 million and is expected to close in the first quarter of 2024.

The transaction will be financed through a combination of cash and debt, and consideration will be paid in Canadian dollars. Barclays served as an advisor to Modine for the transaction, and Angle Advisors served as financial advisor to Scott Springfield Manufacturing.