Dive Brief:
- Modine is selling its coatings facilities in Temecula, California, and Tampa, Florida, to Protecall in a deal slated to wrap by the end of September, the company announced Aug. 29.
- The facilities Protecall is acquiring provide aftermarket applications of anti-corrosion protection to HVAC equipment.
- The deal reflects a continuation of Modine’s strategy to focus on strategic licensing agreements for its spray-applied coatings, Mike Powell, vice president and general manager of Modine Coatings, said in the release.
Dive Insight:
The divestiture of these facilities continues a process Modine initiated in 2021 with the closure of its Pompano Beach, Florida, facility to emphasize proven technologies and services, like product licensing, that can accelerate profitable growth, Modine’s CEO and president, Neil Brinker, stated in the release.
Modine said it will continue to own and license the spray-applied coatings used in aftermarket applications. The company has more than 100 licensed applicators across the Americas.
Modine Coatings licenses its corrosion-resistant coatings technology and provides training for original equipment manufacturers, HVAC installers and service contractors. It has had a long-term licensing partnership with Protecall, Powell said in the release. The coatings division will continue to focus on expanding Modine’s certified applicator program, providing equipment and coil manufacturers with access to its network of coaters and identifying new market segments for Modine’s coatings technologies.
Corrosion is a concern for HVAC systems, particularly those in environments with chemical pollutants, high humidity, salt exposure and dense populations. Anti-corrosive coatings can safeguard vital components from the effects of corrosion, Modine says.
Protecall, which offers several other HVAC coatings in addition to Modine’s, says coatings potentially increase energy efficiency as well as provide corrosion protection. It says its clients have reduced their carbon footprint by more than 137 million pounds and achieved more than $10 million in energy cost savings from applied coil coatings alone.
The announcement comes just a few weeks after Modine announced two moves in the school facilities space: Modine is partnering with TMS Johnson on a suite of HVAC applications targeting school facilities managers in the Midwest, and in July it acquired a portfolio of high-efficiency heating and cooling systems for K-12 schools as part of its purchase of Napps Technology.
