Gentherm Completes Combination with Modine Performance Technologies

Thermogenics Acquires Halmar Boiler Parts to Expand North American Boiler Parts Network

August 14, 2026

Industrial Services

Thermogenics acquired Halmar Boiler Parts, adding a Louisville, Kentucky manufacturing and distribution operation to Thermogenics’ North American boiler services platform. The deal strengthens Thermogenics’ ability to manufacture, stock, and distribute OEM and aftermarket boiler components with large ready-to-ship inventory and same-day shipping.

Gentherm Acquires Innovative Medical Equipment, LLC

July 25, 2026

Medical Devices

Gentherm (NASDAQ: THRM) has acquired Innovative Medical Equipment, LLC (IME), a Cleveland-area provider of the ThermaZone non-opioid thermal therapy device. The deal is intended to strengthen Gentherm’s Medical business by expanding its medical product portfolio, technology platform, and customer channels.

Thermon Group Holdings Acquires Vapor Power International

January 15, 2024

Manufacturing

Thermon Group Holdings, Inc. (NYSE: THR) has acquired Vapor Power International, a provider of electric and gas-fired boilers and steam generators, from StonePointe LLC and members of Vapor Power's management. The acquisition (reported at approximately $110 million) expands Thermon's product portfolio into electric resistance, electrode and super critical coil tube boilers, supporting its electrification and decarbonization strategy.

Regent Acquires Three Modine Automotive Businesses in Germany

September 6, 2023

Automotive

Modine has signed a definitive agreement to sell three of its German automotive businesses (located in Neuenkirchen, Pliezhausen and Wackersdorf) to affiliates of Regent, L.P. The businesses manufacture exhaust gas recirculation (EGR) coolers, radiators and charge air cooler modules and generated combined FY2023 revenue of $80–$90 million; the sale is part of Modine's strategy to focus on higher-margin technologies and is expected to close pending regulatory approval.

Modineer Acquires Pulverman

February 24, 2022

Manufacturing

Modineer Co., Inc., a Modineer Group company owned by Hall Capital and Westbourne Capital Partners, has acquired Pulverman (a Pennmark Technologies company), a Dallas, Pennsylvania-based ISO/IATF-certified metal fabricator serving heavy/medium truck, commercial vehicle and off-highway markets. The acquisition is an add-on to Modineer's platform to expand metal fabrication and high-compliance finishing capabilities; Angle Advisors served as Pulverman's financial advisor.

Gentherm Acquires Etratech Enterprises

November 8, 2017

Manufacturing

Gentherm Incorporated acquired Etratech Enterprises, Inc., a Burlington, Ontario–based designer and manufacturer of advanced electronic controls and systems, from Etratech shareholders (including minority investor The Shotgun Fund). Etratech, which employs more than 400 people and had estimated revenues of CAD 77 million (about US$61 million) trailing-12-months, was purchased for US$64 million (~8.5x trailing EBITDA).