Gentherm completes combination with Modine's Performance Technologies unit
Gentherm completed its Reverse Morris Trust combination with Modine's Performance Technologies business on October 1, 2026. Modine investors received 0.44619 Gentherm shares for each Modine share and held approximately 43.62% of the combined company at closing. Gentherm also acquired the Modine brand, while Modine received a cash distribution that it used to reduce debt.
Why it matters
The transaction reshapes both companies: Gentherm adds the Performance Technologies business and brand, while Modine retains its other operations and plans to seek shareholder approval to adopt the Modexus Solutions name. Modine says the separation will allow it to direct resources toward data-center cooling, commercial HVAC and refrigeration markets.
Key facts
- 1Gentherm finished the combination with Modine's Performance Technologies business on October 1, 2026. globenewswire.com
- 2Modine shareholders received 0.44619 Gentherm shares for every Modine share held on September 28, 2026. prnewswire.com
- 3Former Modine shareholders owned approximately 43.62% of the combined company's outstanding stock at closing. globenewswire.com
- 4Modine received approximately $156 million from SpinCo and used the proceeds to repay outstanding debt. prnewswire.com
- 5Gentherm approved a $2.07-per-share special dividend, scheduled for October 7, 2026, for shareholders of record on September 28, 2026. globenewswire.com
- 6The transaction valued the Performance Technologies business at approximately $946.4 million based on Gentherm's September 30, 2026 closing price. prnewswire.com
Open questions
- Modine's proposed change of name to Modexus Solutions remains subject to shareholder approval.
Summary written by AlphAI from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.