Modine Manufacturing Company · NYSE:MOD
Modine Manufacturing — Merger or Acquisition (February 2024)
7 slides from Modine Manufacturing's merger presentation, Feb 26, 2024
Slide 1: Acquisition of Scott Springfield Manufacturing
February 22, 2024 Acquisition of Scott Springfield Manufacturing
Slide 2: Forward-Looking Statements
Forward-Looking Statements 2 This presentation contains statements, including information about future financial performance and market conditions, accompanied by phrases such as “believes,” “estimates,” “expects,” “plans,” “anticipates,” “intends,” “projects,” and other similar “forward-looking” st
Slide 3: Scott Springfield Manufacturing Overview
Scott Springfield Manufacturing Overview Scott Springfield Manufacturing, Inc. (“SSM”) is a leading manufacturer of Air Handling Units (“AHUs”) for data centers, healthcare, institutional and commercial customers Premier design and engineering expertise from decades of developing complex solutions f
Slide 4: Attractive Markets with Strong Growth Opportunities
Attractive Markets with Strong Growth Opportunities 4 Consists of Hyperscale and Enterprise / Co-Location Data Centers (corporate, in-house), both of which require AHUs to cool servers and related equipment Custom AHUs are the only equipment capable of meeting the stringent HVAC, Indoor Air Quality
Slide 5: Strategic Rationale
Strategic Rationale 5 Strategic Rationale Expands systems solution in two growth verticals- Data Centers and Indoor Air Quality Provides immediate revenue with a Hyperscale customer not currently served by Modine, and creates additional share of wallet opportunities Expands Data Center product offer
Slide 6: Transaction Highlights
Transaction Highlights 6 1. Based on Modine’s balance sheet as of December 31, 2023. and SSM’s EBITDA for the year ended December 31, 2023 ~$190mm purchase price Accretive to earnings per share (before synergies) ~1.3x(1) estimated pro forma net leverage Transaction Multiple in the high single digit
Slide 7: Advances Climate Solutions Portfolio
Advances Climate Solutions Portfolio 7 1. For the period April 1, 2023 through March 31, 2024 forecast including SSM results for the year ended December 31, 2023 FY’24FC Segment Sales by Product(1) FY’24FC Pro Forma Sales by Product (1) /SSM Combination further improves Climate Solutions sales mix w
Modine Manufacturing — Merger or Acquisition (February 2024) on 6ix