Mergers & Acquisitions ·
Gentherm completes acquisition of Modine's Performance Technologies business for $792M
THRMGentherm Inc
On October 1, 2026, Gentherm Incorporated completed its previously announced combination with Modine Manufacturing Company’s Performance Technologies Business. Under the transaction terms, former Modine shareholders received approximately 43.62% ownership in the combined entity, while continuing Gentherm shareholders retained roughly 56.38%. The preliminary purchase consideration was valued at $792.1 million, based on a share price of $33.30 and an exchange ratio converting SpinCo shares into Gentherm stock plus cash for fractional interests. Concurrently, Gentherm declared and paid a special cash dividend of $2.07 per share to its shareholders of record as of September 28, 2026. The acquisition establishes Gentherm as a scaled leader in thermal management solutions, expanding capabilities in precision flow management for power generation, commercial, heavy-duty, light vehicle, and medical end markets. Gentherm operates in the automotive and industrial manufacturing sectors, providing thermal management systems.