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 deal, which was previously announced, brings Montreal-based Neptronic into the SPX HVAC segment, bolstering the company's portfolio of intelligent, controls-enabled solutions for mission-critical environments such as data centers, healthcare facilities, and educational institutions.
Neptronic designs and manufactures a range of products including intelligent controls, electric duct heaters, humidifiers, actuators, and valves. With roughly 300 employees and annual revenue of about US$75 million, Neptronic has established a strong reputation in the HVAC industry. The acquisition aligns with SPX's strategy to expand its precision thermal management offerings and capitalize on the growing demand for energy-efficient, smart building technologies.
“The addition of Neptronic to our HVAC segment enhances our ability to provide integrated, intelligent solutions that improve energy efficiency and system performance in critical environments,” said a SPX spokesperson. “We look forward to accelerating Neptronic's growth by leveraging our global distribution network and operational resources.”
SPX plans to scale Neptronic's business by expanding channel access and customer reach, providing capital for product development, and integrating its technologies into the broader SPX portfolio. The company expects to provide updated 2026 guidance incorporating the acquisition when it reports second-quarter results on July 30, 2026.
SPX Technologies, headquartered in Charlotte, North Carolina, is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. The company operates in 16 countries and is listed on the New York Stock Exchange under the ticker symbol “SPXC.”
For more information on SPX Technologies, visit www.spx.com. The full press release is available at https://ibn.fm/1hbNC.
