SPX Technologies, Inc. (NYSE: SPXC) announced today that it has completed the acquisition of Neptronic Inc. for CA$605 million, or approximately US$430 million, subject to customary closing adjustments. The acquisition marks a significant step in SPX's strategy to enhance its presence in the HVAC market, particularly in the precision thermal management segment.
Montreal-based Neptronic designs and manufactures intelligent controls, electric duct heaters, humidifiers, actuators, and valves. These products serve mission-critical applications such as data centers, health care, and education facilities. With approximately 300 employees and annual revenue of about US$75 million, Neptronic brings a robust portfolio of controls-enabled solutions to SPX.
Neptronic will join the SPX Technologies HVAC segment, complementing its existing offerings and advancing the company's goal 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. This acquisition aligns with the increasing demand for energy-efficient and intelligent building systems, particularly in data centers where precise environmental control is critical.
“We are thrilled to welcome Neptronic to the SPX family,” said Gene Lowe, President and CEO of SPX Technologies. “Neptronic’s innovative products and strong market reputation will enhance our ability to serve customers in high-growth end markets.” 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, visit www.spx.com.
The acquisition underscores the growing importance of intelligent controls in HVAC systems, especially for data centers and healthcare facilities where reliability and precision are paramount. By integrating Neptronic’s product lines, SPX aims to capture a larger share of the expanding market for smart building technologies. The transaction was funded through a combination of cash and debt, and SPX expects the acquisition to be accretive to earnings in the first full year of ownership.
For more details on the press release, visit https://ibn.fm/1hbNC.
