Modine to Combine Performance Technologies Business with Gentherm in Reverse Morris Trust Transaction

Modine Manufacturing Company has entered into definitive agreements to combine its Performance Technologies business with Gentherm Incorporated in a Reverse Morris Trust transaction. Modine will receive $210 million in cash and its shareholders will own approximately 40% of the combined company. The transaction involves a spin-off of the business into a new subsidiary (Platinum SpinCo Inc.) followed by a merger with a Gentherm subsidiary.

“On January 29, 2026, Modine Manufacturing Company, a Wisconsin corporation (the “Company” or “Modine”), entered into definitive agreements with Gentherm Incorporated, a Michigan corporation (“Gentherm”), pursuant to which the Company’s Performance Technologies business (the “Performance Technologies Business”) will be combined with Gentherm in a Reverse Morris Trust transaction. As a result of the transaction, the Company will receive $210 million in cash, subject to adjustment as described below, and the Company’s shareholders will own approximately 40% of the outstanding Gentherm common stock following the transaction, disregarding any shareholder overlap.”

Signals are extracted from public coverage and print archives and pinned to a verbatim quote, presented as reported by their sources; naming a company in a signal is not an accusation against it. The verified mark denotes a high-confidence, corroborated signal. See our methodology and legal notes.