Modine completes spin-off of Performance Technologies business and combination with Gentherm
Bitget2026/10/01 20:39- 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 per Modine share held on Sept. 28, 2026, with cash for fractional shares.
- Post-close ownership split: former Modine shareholders 43.62% of Gentherm, legacy Gentherm shareholders 56.38%.
- Modine received about $156 million in cash, used to repay debt; shareholders kept their Modine shares.
- Gentherm acquired the Modine brand and trademarks; Modine plans to seek shareholder approval to rename itself Modexus Solutions.
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