SPX Technologies, Inc. (NYSE: SPXC) announced the completion of its acquisition of Neptronic Inc. for CA$605 million, approximately US$430 million, subject to customary closing adjustments. The Montreal-based company, which employs about 300 people and generates annual revenue of roughly US$75 million, designs and manufactures intelligent controls, electric duct heaters, humidifiers, actuators, and valves for mission-critical applications including data centers, health care, and education.
Neptronic will become part of the SPX Technologies HVAC segment, expanding the company's precision thermal management portfolio and advancing its strategy to provide intelligent, controls-enabled HVAC solutions. SPX plans to accelerate Neptronic's growth by expanding channel access and customer reach, while providing capital and operational resources to scale the business. The acquisition aligns with SPX's focus on high-growth, technology-driven markets where its products are essential for critical infrastructure.
SPX expects to provide updated 2026 guidance incorporating the acquisition when it reports second-quarter results on July 30, 2026. For more details, the full press release is available at https://ibn.fm/1hbNC.
SPX Technologies, based in Charlotte, North Carolina, is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. With operations in 16 countries, the company is listed on the New York Stock Exchange under the ticker symbol “SPXC.” More information can be found at www.spx.com.
This acquisition underscores SPX's commitment to strengthening its HVAC segment with advanced controls and components that are critical for modern infrastructure. By integrating Neptronic's product line, SPX aims to enhance its ability to serve data centers, healthcare facilities, and educational institutions, which require reliable and efficient thermal management solutions. The move is expected to drive revenue growth and operational efficiencies as SPX leverages its global distribution network to expand Neptronic's market presence.
The transaction reflects a broader industry trend toward consolidation in the HVAC market, as companies seek to offer comprehensive solutions that combine hardware with intelligent controls to meet increasing demand for energy-efficient and sustainable building technologies. SPX's acquisition of Neptronic positions the company to capitalize on these trends and deliver enhanced value to customers and shareholders.
