MODINE MANUFACTURING CO

Modine Manufacturing Company (NASDAQ: MOD) operates as a global leader in thermal management solutions, serving customers across commercial, industrial, and vehicular markets on four continents. The company's website is www.modine.com. Founded in 1916 by Arthur B. Modine, the company has evolved from its origins in radiator and heating technology into a comprehensive provider of mission-critical thermal solutions designed to improve indoor air quality, reduce emissions, and enhance energy efficiency.

The company operates through two primary reportable segments. The Climate Solutions segment, which represented 65 percent of fiscal 2026 net sales of $3.2 billion, provides energy-efficient climate-controlled solutions including data center cooling systems, heat exchangers for HVAC&R applications, and heating and indoor air quality products. The Performance Technologies segment, representing 35 percent of sales, supplies heat exchangers and cooling systems for vehicular applications and off-highway equipment, along with stationary power generation solutions.

Within Climate Solutions, the Data Centers business has become a significant growth driver, accounting for 35 percent of total company sales in fiscal 2026, up from 25 percent in fiscal 2025. This business serves hyperscale, colocation, and edge data center customers with innovative cooling solutions featuring low global warming potential refrigerants and water-efficient technologies. The Heat Transfer Solutions business provides heat exchanger coils and anti-corrosion coatings, while HVAC Technologies offers heating and indoor air quality solutions for commercial, educational, and residential applications.

Modine employs approximately 13,200 people globally and maintains manufacturing and administrative operations across North America, South America, Europe, and Asia. The company's top ten customers accounted for 49 percent of fiscal 2026 net sales, with significant relationships across data center, commercial vehicle, and off-highway equipment markets. In January 2026, Modine announced a transformative transaction whereby it will spin off and combine its Performance Technologies segment with Gentherm Incorporated in a Reverse Morris Trust transaction, expected to close by the end of calendar 2026, positioning Modine as a pure-play climate solutions company focused on data centers and commercial HVAC&R markets.