Modine Manufacturing to Acquire L.B. White
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Modine Manufacturing said Friday that it entered into a definitive agreement to acquire L.B. White, based on an enterprise value of about $112 million. L.B. White is a global provider of specialty heating products for the agriculture, construction and special event industries. It is headquartered in Wisconsin with additional manufacturing and distribution operations in Georgia. The company said it expects the transaction to close on Saturday and be immediately accretive to earnings. Upon closing, L.B. White will be integrated into Modine's heating, ventilation, and air conditioning technologies product group.
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