Gentherm completes Reverse Morris Trust combination with Modine's Performance Technologies

Gentherm closed its combination with Modine's Performance Technologies business, spun off via Platinum SpinCo in a Reverse Morris Trust structure first announced in January. Gentherm also acquired the Modine brand, domains and trademarks and will go to market as Modine. Modine plans a shareholder vote to rename itself Modexus Solutions while keeping NYSE ticker MOD.

Why it matters: The split leaves Modine focused on data center cooling and commercial HVAC while Gentherm bulks up in thermal and precision flow management.