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Gentherm Completes Combination with Modine’s Performance Technologies Business

Globe Newswire•01/10/2026•16:36 ET
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Key Highlights

  • ➤Gentherm (THRM) completed combination with Modine’s Performance Technologies business
  • ➤Modine shareholders received 0.44619 Gentherm (THRM) shares per Modine (MOD) share
  • ➤Modine shareholders own approximately 43.62% of combined Gentherm (THRM)
  • ➤Gentherm (THRM) declared $2.07-per-share special dividend payable October 7, 2026
  • ➤Modine received approximately $156 million cash distribution to repay debt

Expert Statements

Bill Presley, President and CEO of Gentherm

“Today marks the start of the next phase for Gentherm. Together, we have created a global leader in thermal and precision flow management solutions serving multiple end markets, combining complementary technologies, deep expertise and strong customer relationships,”

Bill Presley, President and CEO of Gentherm

“We are proud to continue the Modine legacy of innovation as part of Gentherm while building an even stronger future for our employees, customers and shareholders and welcome the Modine Performance Technologies team to Gentherm.”

Bill Presley, President and CEO of Gentherm

“Since we first began discussions with Modine, I have been impressed with the team's strategic vision and operational discipline. They are highly skilled and bring a relentless focus on quality and execution,”

Bill Presley, President and CEO of Gentherm

“I look forward to spending more time with Performance Technologies' highly capable and long-tenured segment leaders.”

Ronald Hundzinski, Chair of the Board of Gentherm

“We are pleased to welcome Paul to Gentherm’s Board of Directors. Paul is an accomplished executive with many years of deep board experience. He has served across a wide range of committees for companies in various industries that will be a valuable asset as we execute Gentherm's strategy and deliver shareholder value.”

Combination Creates Global Market Leader of Thermal and Precision Flow Management Technologies

Announces Appointment of Paul Mascarenas to its Board of Directors

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