ACR-News

Airedale International's parent company, Modine Manufacturing Company (NYSE: MOD), has entered into exclusive negotiations to acquire privately-held Barkell Limited, a market-leading manufacturer of custom-built air handling units based in Consett, County Durham.
The acquisition will be facilitated through Modine's UK subsidiary Airedale allowing it to provide an expanded product offering into the air handling segment and further extending its overall offering to the HVAC and data centre markets.

The deal is expected to close during the first quarter of 2014 and is subject to successful completion of due diligence and customary closing conditions. The terms of the anticipated deal were not disclosed.

Since its foundation in 1981, Barkell has focused on the bespoke air handling market within the UK. With a reputation for high quality products and services, Barkell has gained a leading market share within this segment in the UK.

Modine's vice president, Commercial Products Group, Matt McBurney, said: 'Acquiring Barkell helps us expand both our product line and our sales channel in the UK. In addition, this acquisition will help us build on Modine's success in the growing data center air conditioning market by providing innovative solutions, including adiabatic cooling.'

Clive Parkman, managing director of Airedale International Air Conditioning, said: 'Everyone at Modine is excited about the opportunities Barkell and Airedale can bring to each other. We have been working together for a number of years and are pleased we are moving forward with this next step.

'With a focus on the air handling market, Barkell offers Airedale an excellent opportunity to expand both our product and service solutions to new and current customers.'