The largest contributor to performance in the first quarter was Gentherm (THRM) which reported solid year-end results and provided a positive outlook for its core market; heating and cooling technology for automobile seats. Gentherm has been a consistent performer over the past few years as its products have become more of a standard offering as opposed to an upgrade and are now found on many mid-priced models as well as the high end segment. We continue to like Gentherm as the company broadens not only its heated/cooled products for the auto industry, but its pipeline for new products focused on other industries continues to advance and looks promising as well.
From Bill Frels (Trades, Portfolio)’ Mairs & Power Small Cap Fund Q1 2015 Commentary.
