Modine acquires Napps Technology6th July 2023
USA: Modine has acquired Texas-based acquired chiller, condensing unit and heat pump manufacturer Napps Technology.
With Napps supplying the school market and other similar applications, the acquisition is said to be in line with Modine’s growth strategy to provide differentiated technologies and systems that help customers address real-world concerns, such as improving indoor air quality in schools.
Napps Technology’s Jetson product line will be merged into the Airedale portfolio over the next few months and continue to manufacture in Longview, Texas. Sam Neale, current president of Napps Technology, will join Modine.
In a press statement, Modine said: “The acquisition of Napps Technology allows Modine to enhance its offerings to the K-12 school market, while also enabling Modine to serve a broader range of customers and end markets seeking small tonnage chillers and chillers with heat pumps. Modine expects to generate between $6m to $8m in revenue this year from the acquisition and forecasts doubling that within two years.”
Jake Feldman, the vice president and general manager of its indoor air quality business, added: “Technologies that improve indoor air quality are more important than ever, especially in schools. Napps Technology’s modular, heat pump chillers perfectly complement our existing portfolio of indoor air quality technologies and equip us to meet a broader range of customer needs in the K-12 school market and beyond.”
The Jetson product portfolio includes:
Modular air-cooled chillers and heat pumps
Modular water-cooled chillers
Packaged air-cooled chillers and heat pumps
Water-cooled condensing units
Air-cooled condensing units
Split-system air-cooled chillers.
Tracing its history back to 1957, Napps was originally incorporated as Napps Industries in 1975. During that time it has enjoyed a very close relationship with Trane. Since the early 1990s Napps has designed and manufactured conventional commercial air conditioning equipment and offers a full line of highly efficient commercial products exclusively through the Trane sales offices throughout the Americas.
A Modine spokesperson confirmed that the relationship with Trane was expected to continue, adding: “Modine has similar relationships with other customers and expect that this supplier relationship will not be impacted by our acquisition of Napps.”