SPX Technologies, Inc. (NYSE: SPXC) announced today the completion of its acquisition of Neptronic Inc. for CA$605 million, approximately US$430 million, subject to customary closing adjustments. The deal positions SPX to enhance its precision thermal management portfolio and expand its footprint in mission-critical applications.
Based in Montreal, Neptronic designs and manufactures intelligent controls, electric duct heaters, humidifiers, actuators, and valves. The company serves sectors such as data centers, healthcare, and education, where precise environmental control is essential. With around 300 employees and annual revenue of about US$75 million, Neptronic will operate under SPX's HVAC segment, which already holds a strong position in the market.
SPX plans to accelerate Neptronic's growth by expanding channel access and customer reach while providing capital and operational resources to scale the business. The acquisition aligns with SPX's strategy to offer intelligent, controls-enabled HVAC solutions. As part of the integration, SPX expects to provide updated 2026 guidance incorporating the acquisition when it reports second-quarter results on July 30, 2026.
This acquisition underscores SPX's commitment to strengthening its portfolio in high-growth areas. The addition of Neptronic's products and expertise is expected to create new opportunities in the rapidly expanding data center market, where demand for efficient cooling and control systems is surging. By integrating Neptronic's capabilities, SPX can offer a more comprehensive suite of solutions for managing temperature and humidity in critical environments.
For more details on the acquisition, view 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, the company operates 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.
