SPX Technologies Expands HVAC Portfolio with CA$605 Million Acquisition of Neptronic

SPX Technologies, Inc. (NYSE: SPXC) announced today the completion of its acquisition of Neptronic Inc. for CA$605 million, or approximately US$430 million, subject to customary closing adjustments. The deal enhances SPX's HVAC segment by adding Neptronic's portfolio of intelligent controls, electric duct heaters, humidifiers, actuators and valves, which are utilized in mission-critical environments such as data centers, healthcare facilities and educational institutions.

Neptronic, based in Montreal, employs around 300 people and generates annual revenue of about US$75 million. The company's products are integral to precision thermal management, a growing market driven by the increasing demand for energy-efficient and reliable climate control solutions in sectors where operational continuity is paramount. By integrating Neptronic, SPX aims to broaden its channel access and customer reach, leveraging its capital and operational resources to accelerate growth.

This acquisition aligns with SPX's strategy to provide intelligent, controls-enabled HVAC solutions. The company plans to update its 2026 guidance incorporating the acquisition when it reports second-quarter results on July 30, 2026. SPX Technologies, headquartered in Charlotte, North Carolina, holds leadership positions in the HVAC and detection and measurement markets, operating in 16 countries.

For more information, visit https://ibn.fm/1hbNC to view the full press release.