Modine designs and manufactures thermal management and heat transfer products. The company operates through three segments: Data Center Cooling, Performance Technologies, and Commercial HVAC. Data Center Cooling provides chillers, air handling units, and liquid cooling solutions to hyperscale cloud providers and colocation operators. The Commercial HVAC segment produces heating, ventilation, and refrigeration equipment for industrial, educational, and agricultural markets. Modine is currently spinning off its Performance Technologies segment, which makes cooling components for vehicles and heavy machinery, through a transaction with Gentherm to become a pure-play climate solutions business. Modine generates revenue by selling thermal systems directly to customers, typically under long-term supply agreements. While the data center business follows a project-based model, the company is increasingly using multi-year capacity commitments to manage high upfront capital requirements. Modine’s strategy centers on expanding global manufacturing capacity for data center cooling and scaling its HVAC business through acquisitions. The company uses an 80/20 management framework to focus resources on high-margin products while improving margins by increasing factory utilization as production volumes scale.