Modine completes spin-off of Performance Technologies, merges it with Gentherm in a $946M deal.

Modine has completed the spin-off of its Performance Technologies business, which merged with Gentherm through a Reverse Morris Trust transaction valued at approximately $946.4 million. Modine shareholders received Gentherm shares and a cash distribution used to repay debt, while Modine plans to rename itself Modexus Solutions pending shareholder approval. Gentherm acquired the Modine brand and will continue using it, ensuring customer continuity. This strategic move refocuses Modine on thermal management markets like data center cooling and HVAC, aiming for long-term shareholder value.

As of Oct 02, 2026 03:51 WIB, Modine Manufacturing Company (MOD) is trading at USD 187.56 on Pluang, showing a modest 0.19% gain for the day. The stock’s market capitalization stands at $9.94 billion with a trading volume of 1,337,755 shares. This stable trading performance comes shortly after Modine’s strategic spin-off and merger of its Performance Technologies business with Gentherm. The most notable figure is MOD’s enterprise value of $10.38 billion, reflecting its significant presence in the industrials sector.