Modine completes spin-off of Performance Technologies business and combination with Gentherm
MOD•Modine completed the spin-off and combination of its Performance Technologies business with Gentherm. Modine received about $156 million to repay debt, while former Modine shareholders received 43.62% of Gentherm.
1. Transaction completed
Modine completed the spin-off of its Performance Technologies business, which combined with Gentherm in a single transaction. Modine shareholders received 0.44619 Gentherm shares for each Modine share held on Sept. 28, 2026, with cash for fractional shares; former Modine shareholders own 43.62% of Gentherm, and legacy Gentherm shareholders own 56.38%.
2. Modine after the deal
Modine received about $156 million in cash and used it to repay debt, while shareholders kept their Modine shares. Gentherm acquired the Modine brand and trademarks, and Modine plans to seek shareholder approval to rename itself Modexus Solutions.
