SPX Technologies (NYSE: SPXC) announced the completion of its acquisition of Neptronic Inc. for CA$605 million, or approximately US$430 million, subject to customary closing adjustments. The deal, which was previously disclosed, marks a strategic expansion of SPX's HVAC segment into intelligent controls and precision thermal management solutions.
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. By integrating Neptronic, SPX aims to offer a broader portfolio of controls-enabled HVAC solutions that address growing demand for energy efficiency and precise environmental control in sensitive environments.
The acquisition aligns with SPX's strategy to provide intelligent, controls-enabled HVAC solutions, particularly in high-growth markets such as data centers, where thermal management is critical for performance and reliability. Neptronic's product line complements SPX's existing offerings and allows the company to deliver more integrated systems to customers. 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.
SPX expects to provide updated 2026 guidance incorporating the acquisition when it reports second-quarter results July 30, 2026. The company's HVAC segment has been a focus for growth, and this acquisition strengthens its position in the precision thermal management market. For more details on the acquisition, visit 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. The company's stock is listed on the New York Stock Exchange under the ticker symbol SPXC. For more information, visit www.spx.com.
The transaction underscores the importance of intelligent controls in modern HVAC systems, particularly as data centers and healthcare facilities require more sophisticated environmental management. Neptronic's expertise in controls and actuators positions SPX to better serve these high-demand sectors. The acquisition is expected to contribute to SPX's revenue and earnings growth, with the company planning to leverage Neptronic's technology and customer relationships to expand its market presence.
With this acquisition, SPX adds a complementary product line that enhances its ability to offer end-to-end solutions for thermal management. The move is likely to strengthen SPX's competitive position against other HVAC suppliers and could lead to further innovations in intelligent building systems. As the demand for energy-efficient and reliable HVAC solutions grows, SPX's expanded portfolio positions it well to capture market share in key verticals.
