Gentherm to merge with Modine Performance Technologies in a $1bn deal.

Gentherm, an innovative thermal management and pneumatic comfort technologies company, agreed to merge with Modine Performance Technologies, the spun off performance technologies business of Modine, a thermal management technology and solutions provider, in a $1bn deal. “This transaction accelerates the execution of our strategic framework with the combined company increasing its presence across multiple attractive end markets to drive profitable growth. Together, we will further scale our thermal management solutions and expand our technologies and capabilities in precision flow management, building on the global leadership of Modine Performance Technologies in the commercial vehicle, heavy-duty equipment, and fast-growing power generation end markets," Bill Presley, Gentherm President and CEO.