MMModine Manufacturing Company (Performance Technologies Business)GIGentherm Incorporated

Overview

Gentherm and Modine entered into a definitive agreement under which Modine agreed to spin off its Performance Technologies business and combine it with Gentherm in a tax-free Reverse Morris Trust transaction valued at about $1.0 billion. Modine receives a $210 million cash distribution and its shareholders receive about 21 million new Gentherm shares (about $790 million), for roughly 40% ownership of the combined company.

Deal rationale

The combination builds scale in thermal management and broadens Gentherm's end-market exposure beyond light vehicles, while letting Modine become a pure-play climate solutions company.

Timeline

1. AnnouncedJan 29, 2026

   Imported from prototype record 111, unverified

   Filing
2. Shareholder vote · ApprovedSep 10, 2026

   Acquirer shareholders approved the deal.

   Filing
3. ClosedOct 1, 2026

   Closing reported in Form 8-K filed 2026-10-01.

   Filing

Valuation and terms

Advisors

Parties