Modine to Spin Off Performance Technologies and Merge with Gentherm

Modine Manufacturing Company is planning a spin-off of its Performance Technologies segment into a new entity, Platinum SpinCo Inc., which will then merge with Gentherm Incorporated in a Reverse Morris Trust transaction. The deal is expected to close before the end of the calendar year, pending regulatory and shareholder approvals.

“The Performance Technologies segment is making excellent progress on preparing for the planned spin-off and merger with Gentherm. There are numerous work streams preparing for the separation including standing up IT systems to ensure that we can deliver a stand-alone operating business to Gentherm at close.”

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