SPX Technologies, Inc. (NYSE: SPXC) announced the completion of its acquisition of Neptronic Inc. for CA$605 million, or approximately US$430 million, subject to customary closing adjustments. The deal, which was first disclosed earlier this year, marks a significant expansion of SPX's HVAC segment with the addition of Neptronic's intelligent controls and components for mission-critical environments.
Montreal-based Neptronic designs and manufactures intelligent controls, electric duct heaters, humidifiers, actuators, and valves. The company's products are essential for data centers, healthcare facilities, and educational institutions, where precise environmental control is critical. Neptronic generates annual revenue of about US$75 million and employs approximately 300 people.
Neptronic will join SPX Technologies' HVAC segment, where it will complement the company's existing precision thermal management portfolio. SPX aims to accelerate Neptronic's growth by expanding channel access and customer reach, as well as providing capital and operational resources to scale the business. This acquisition aligns with SPX's strategy to provide intelligent, controls-enabled HVAC solutions.
"The addition of Neptronic strengthens our capabilities in the rapidly growing data center market and other mission-critical applications," said a spokesperson for SPX Technologies. The company expects to provide updated 2026 guidance incorporating the acquisition when it reports second-quarter results on July 30, 2026.
SPX Technologies is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in Charlotte, North Carolina, SPX has operations in 16 countries and is listed on the New York Stock Exchange under the ticker symbol "SPXC."
For more information about SPX Technologies, visit www.spx.com. To view the full press release, visit https://ibn.fm/1hbNC.
