Gentherm and Modine have announced a definitive agreement to merge Gentherm with Modine’s Performance Technologies business in a Reverse Morris Trust transaction. The combination will create a global thermal management company with expanded capabilities across power generation, commercial vehicles, heavy-duty equipment, light vehicles, and medical sectors.
Modine will spin off its Performance Technologies division, which will then be combined with Gentherm. Following the transaction, Gentherm will operate as the parent company, while Modine will focus on its Climate Solutions segment, positioning itself as a pure-play provider in high-growth areas such as data center cooling and commercial HVAC and refrigeration.
The combined business will integrate Modine Performance Technologies’ expertise in air- and liquid-cooled solutions with Gentherm’s technologies in thermal management and precision flow. Both companies highlight strong opportunities for product integration, cross-selling, and global market expansion as key benefits of the merger.
Modine Performance Technologies will continue to operate under its existing brand name as a division within Gentherm. The combined company will retain Gentherm’s name and headquarters in Novi, Michigan, and will maintain a significant presence at Modine’s current locations.
Leadership of the new company will include Bill Presley as CEO and Jon Douyard as CFO. Jeremy Patten will remain President of Modine Performance Technologies. Gentherm’s Board of Directors will expand to include two members designated by Modine.
“This transaction accelerates the execution of our strategic framework,” said Gentherm CEO Bill Presley. “Together, we will further scale our thermal management solutions and expand our capabilities in precision flow management.”
Modine CEO Neil Brinker added: “Combining Modine’s Performance Technologies business with Gentherm establishes two stronger, more focused companies. I believe Gentherm will be a perfect home for our great associates on the Performance Technologies team.”
The transaction is expected to close in the fourth quarter of 2026, subject to shareholder and regulatory approvals.
