Modine Manufacturing Company · NYSE:MOD
Modine Manufacturing — Merger or Acquisition (May 2005)
11 slides from Modine Manufacturing's merger presentation, May 3, 2005
Slide 1: Airedale International Air Conditioning Limited
Modine Manufacturing Company Airedale International Air Conditioning Limited Attachment to Press Release May 3, 2005 Applied Thermal Innovation
Slide 2: Airedale . . . A brief overview
Airedale . . . A brief overview Airedale International Air Conditioning Limited • Leading designer and manufacturer of specialty air conditioning systems sold in over 50 countries • Largest privately owned air conditioning company in the United Kingdom • Founded in 1974 in Leeds, U.K. • Most recent
Slide 3: Airedale . . . A brief overview: major products
Airedale . . . A brief overview Major products include the following systems: • Close control (for precise temperature & humidity control) • Chillers • Comfort ClassMate® • Condensing units • Controls Mini Split Condensing Units Answer AlphaCool Ultima Storemaster Condensing Units Ceiling Cassettes
Slide 4: Airedale . . . A brief overview: applications
Airedale . . . A brief overview Products sold to installers, contractors and end users in many commercial and industrial applications including: • Finance, banking, IT • Printing, plastics • Chemicals, • Education pharmaceuticals • Retail • Food & beverage • Telecommunications processing • Defense •
Slide 5: Airedale . . . Background and history
Airedale . . . Background and history • Started in 1974 by Peter Midgley, Allan Duttine and Geoffrey Duttine • Initially focused on close control products • Expanded into the U.S. and South Africa in the mid–1980s • Added comfort and chiller products and began selling products in China in the 1990s
Slide 6: Promoting the environment, health & safety
Airedale . . . Promoting the environment, health & safety Accomplishments • British Standards Institute registered • Certified by the U.K. Accreditation Service • ISO 9001:2000 • ISO 14001 certified • British Safety Council Award for past 6 years
Slide 7: Strategic Rationale
Strategic Rationale • Reinforces strategy of global market, customer and product diversification in thermal management • Continues Modine and HVAC&R division focus on niche products and markets • Focus on technology, innovation and functionality as customer drivers • Provides complementary products
Slide 8: Modine's HVAC&R Division
Modine’s HVAC&R Division • Part of Modine since 1922 when founder A.B. Modine invented the hydronic unit heater • Product line consists of: – Unit heaters, infrared and rooftop makeup air heaters sold to more than 1,500 North American customers – Copper tube aluminum fin and stainless steel heat exc
Slide 9: Growth Drivers in Global AC Market
Growth Drivers in Global AC Market • Emerging Chinese and Eastern Europe AC markets • Expanding mobile telecom services • More stringent energy efficiency targets requiring replacement/refurbishment of existing AC systems • Rising worldwide energy costs encourage greater emphasis on more efficient p
Slide 10: Financial Rationale and Summary
Financial Rationale and Summary • Accretive to fiscal 2006 EPS before synergies • Purchase price of $38 million is highly competitive 6.5 times Airedale’s 2004 normalized EBITDA • Synergies and expansion opportunities over time • No substantial increase in financial leverage – Financed through combi
Slide 11: _uo DINE
_uo DINE Orr ien THERMAL INNOVATION™ AIREDALE air conditioning for every environment
Modine Manufacturing Company — Merger or Acquisition (May 2005) on 6ix