Gentherm and Modine agree to $1 billion thermal management merger

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Go back to Gentherm and Modine agree to $1 billion thermal management merger

Gentherm and Modine’s Performance Technologies Business to Combine, Establishing a Scaled Leader in Thermal Management Solutions

January 29, 2026 7:00 AM EST

Expands Gentherms portfolio with highly complementary thermal management products and engineering capabilities, creating strong commercial opportunities in attractive end markets including power generation, commercial vehicles, and heavy-duty equipmentCreates a compelling and more balanced financial profile for the combined company including lower light vehicle exposure, greater scale, substantial synergies, and a balance sheet with capacity to invest in future growthReverse Morris Trust transaction valued at ~$1.0 billion,1 ~6.8x post-synergy adjusted EBITDA2,3,4 with Modine and Gentherm shareholders expected to own 40% and 60% of the combined company, respectively... More