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, which was first announced earlier this year, positions SPX to strengthen its HVAC segment with Neptronic's intelligent controls and thermal management products.
Montreal-based Neptronic designs and manufactures intelligent controls, electric duct heaters, humidifiers, actuators, and valves for mission-critical applications, including data centers, healthcare, and education. The company employs around 300 people and generates annual revenue of about US$75 million. Neptronic will join the SPX Technologies HVAC segment, expanding its precision thermal management portfolio and advancing its strategy to provide intelligent, controls-enabled HVAC solutions.
SPX plans to accelerate Neptronic's growth by expanding channel access and customer reach and providing capital and operational resources to scale the business. The acquisition aligns with SPX's focus on high-growth, technology-driven markets, particularly in data center cooling and energy-efficient building systems. SPX expects to provide updated 2026 guidance incorporating the acquisition when it reports second-quarter results on July 30, 2026. For more details, visit the full press release here.
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 is listed on the New York Stock Exchange under the ticker symbol SPXC. More information can be found at www.spx.com.
The acquisition of Neptronic is expected to enhance SPX's capabilities in precision thermal management, a critical area for data centers and other facilities requiring high reliability and energy efficiency. By integrating Neptronic's intelligent controls and actuators, SPX aims to offer more comprehensive HVAC solutions that can be remotely monitored and optimized. This move comes as demand for efficient cooling in data centers continues to rise, driven by the expansion of cloud computing and artificial intelligence workloads.
Industry analysts view the acquisition as a strategic fit that strengthens SPX's position in the growing HVAC controls market. Neptronic's product line complements SPX's existing offerings, particularly in the areas of humidification and electric heating. The combined portfolio is expected to provide cross-selling opportunities and operational efficiencies.
SPX's focus on mission-critical applications is timely, as sectors like healthcare and education increasingly require precise environmental control. The acquisition also underscores a trend of consolidation in the HVAC industry, where larger players seek to acquire specialized technology companies to enhance their product ecosystems.
