Subscribe to the daily news Sign in
En

Modine Signs Agreement to Sell AIAC Air Conditioning South Africa (Pty) Ltd to Existing Management Team

Modine Manufacturing Company, a company in thermal management technology and solutions, has signed an agreement to sell its South African business operation, AIAC Air Conditioning South Africa (Pty) Ltd, to the current management team, headed by Andrew Koeslag.

<img class="alignnone size-full wp-image-11531" src="https://refindustry.com/wp-content/uploads/2018/04/modine-logo.jpg" alt="" width="150" height="150" />

With its base in Johannesburg, South Africa, AIAC Air Conditioning South Africa (Pty) Ltd focuses on the manufacture of precision air conditioning systems. Over the years, the business has served a range of customers across several sectors, including banking and telecoms, predominantly in South Africa.  FY2017 sales for this business were just under $3 million USD.

"As we continue to strategically shape the make-up of our Building HVAC group, at Modine, we feel the local South African market will be best served by a business with complete local ownership," said Scott Miller, Vice President – Building HVAC.  Under the new ownership, the business will have increased opportunities to develop a broader product line to remain locally competitive while bidding for government and parastatal projects.

Additionally, Miller commented, "We believe that the new business has the opportunity to experience growth dynamics by way of local, private ownership with the ability and clear path to competitively shape itself for the requirements of the market.  Modine would like to thank all of the South African employees and wishes them continued success in the future."

Andrew Koeslag, owner of the newly formed AIACSA (Pty) Ltd added, "We are excited to continue the manufacture of quality and efficient products here in South Africa, supporting the economy and providing local employment. The purchase will allow us greater market accessibility; we cannot wait to deliver our solutions and services to new and existing customers."
Related tags: HVAC, air conditioning
Share

Related news

CCR unveils new brand identity after separation from Carrier
CCR Commercial Refrigeration, formerly known as Carrier Commercial Refrigeration, has introduced a new brand identity following its acquisition by Haier. The rebranding includes a refreshed logo, u...
06 Jun 2025
SMACool Project Develops Elastocaloric Cooling System for Homes
A European consortium is developing a high-efficiency air conditioning system using shape memory alloys as solid-state refrigerants. The EU-funded SMACool project is advancing elasto
05 May 2025
Johnson Controls Marks 140 Years of Building Innovation
Milestone highlights legacy of HVAC, fire safety, and smart building solutions. Johnson Controls is commemorating its 140th anniversary, marking over a century of innovation in heating, ventil...
01 May 2025
Leonardo Cozac assumes ABRAVA presidency for 2025–2028 term
The new ABRAVA 360 board has officially taken leadership of the Brazilian Association of Refrigeration, Air Conditioning, Ventilation and Heating (ABRAVA) for the 2025–2028 term. The inaugurati...
yesterday
CAREL appoints new managing directors for SENVA Inc. and CFM
CAREL has announced new leadership appointments at its Group companies SENVA Inc. and CFM. Effective 1 May 2025, Roberto Sandano has become Managing Director of SENVA Inc., while Maurizio Penne...
07 Jun 2025
CAREL receives UL certification for A2L-ready control components
CAREL has obtained UL LZGH2/8 certification for several product lines designed for use with mildly flammable refrigerants. The certified ranges include pCO (pCO5+), c.pCO (c.pCO and c.pCO mini), c....
today