SPX Technologies, Inc. (NYSE: SPXC) has completed the acquisition of Neptronic Inc. for CA$605 million, or approximately US$430 million, subject to customary closing adjustments. The deal, announced on [date], marks a strategic expansion of SPX's HVAC segment, particularly in precision thermal management for mission-critical environments such as data centers, healthcare facilities, and educational institutions.
Montreal-based Neptronic, which employs about 300 people and generates annual revenue of roughly US$75 million, specializes in designing and manufacturing intelligent controls, electric duct heaters, humidifiers, actuators, and valves. These products are essential for maintaining precise environmental conditions in facilities where reliability and efficiency are paramount. By integrating Neptronic's offerings, SPX aims to strengthen its position in the growing market for intelligent, controls-enabled HVAC solutions.
SPX expects to accelerate Neptronic's growth by expanding channel access and customer reach, as well as providing capital and operational resources to scale the business. The company plans to provide updated 2026 guidance that incorporates the acquisition when it reports second-quarter results on July 30, 2026. This acquisition aligns with SPX's strategy to focus on high-growth, high-margin segments within the HVAC and detection and measurement markets.
To view the full press release, visit this link. SPX Technologies, headquartered in Charlotte, North Carolina, operates in 16 countries and is listed on the New York Stock Exchange under the ticker “SPXC.” The company is a supplier of highly engineered products and technologies, holding leadership positions in its core markets.
The acquisition underscores the increasing importance of intelligent HVAC controls in critical infrastructure, as data centers and healthcare facilities demand higher precision and reliability. Neptronic's expertise in controls and actuators complements SPX's existing portfolio, potentially enabling more integrated solutions for customers. The deal also highlights SPX's commitment to expanding its capabilities organically and through strategic acquisitions.
For more information about SPX Technologies, visit www.spx.com. The transaction is expected to contribute to SPX's growth trajectory, with further details to be provided in the upcoming quarterly report.
