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 acquisition, which was previously announced, underscores SPX's commitment to expanding its precision thermal management capabilities in the HVAC sector.
Montreal-based Neptronic designs and manufactures intelligent controls, electric duct heaters, humidifiers, actuators, and valves for mission-critical applications including data centers, health care, and education. The company employs approximately 300 people and generates annual revenue of about US$75 million. Neptronic's product portfolio complements SPX's existing HVAC offerings, particularly in the growing data center market where precise environmental control is essential.
Neptronic will join the SPX Technologies HVAC segment, advancing the company's strategy to provide intelligent, controls-enabled HVAC solutions. SPX plans 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 acquisition is expected to be accretive to SPX's earnings and cash flow.
SPX expects to provide updated 2026 guidance incorporating the acquisition when it reports second-quarter results on July 30, 2026. For more details on the acquisition, please refer to the full press release at https://ibn.fm/1hbNC.
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.” More information is available at www.spx.com.
The acquisition of Neptronic is a strategic move to strengthen SPX's position in the intelligent HVAC market, particularly for mission-critical applications. With the increasing demand for data centers and advanced healthcare facilities, the need for precise temperature and humidity control is paramount. Neptronic's expertise in controls and actuators aligns with SPX's focus on providing integrated solutions that enhance energy efficiency and reliability.
Industry analysts view the acquisition as a positive step for SPX, as it adds a high-growth business with strong margins and a complementary product line. The deal also expands SPX's geographic reach into Canada and strengthens its presence in North America. By integrating Neptronic, SPX aims to cross-sell products and leverage its global distribution network to drive revenue growth.
The transaction marks another milestone in SPX's transformation into a more focused industrial technology company. Over the past few years, SPX has divested non-core businesses and invested in higher-growth segments such as HVAC and detection and measurement. The Neptronic acquisition is expected to contribute to SPX's long-term growth trajectory and enhance shareholder value.
