Modine announced it has entered into a definitive agreement to acquire L.B. White, a provider of specialty heating solutions for agriculture, construction, and special event sectors. The transaction, based on an enterprise value of approximately $112 million, is expected to close on May 31, 2025, subject to customary closing conditions.
L.B. White manufactures direct-fired forced air, radiant, indirect-fired, and electric heating systems. The company holds a leading position in the North American swine and poultry agriculture heating market and is a top supplier in portable heating. Its headquarters are in Onalaska, Wisconsin, with additional operations in Georgia.
Modine stated that L.B. White will report revenue of $73.5 million for its fiscal year ending May 31, 2025. Following the close, the company will be integrated into Modine’s HVAC Technologies product group, with the current leadership team remaining in place.
“Acquiring L.B. White is another example of executing on our strategy to expand and further diversify our portfolio with complementary technology,” said Neil D. Brinker, Modine President and CEO.
Eric McGinnis, President, Climate Solutions at Modine, added: “The complementary product technologies, additional sales channels and cross-selling opportunities position Modine to meet the evolving needs of our customers with the right product at the right time.”