SPX Technologies, Inc. (NYSE: SPXC) announced today the completion of its acquisition of Neptronic Inc. for CA$605 million, or approximately US$430 million, subject to customary closing adjustments. The acquisition marks a strategic move by SPX to expand its precision thermal management portfolio and advance its goal of providing intelligent, controls-enabled HVAC 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. Neptronic will join the SPX Technologies HVAC segment, which is expected to benefit from the integration of Neptronic's advanced control technologies.
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. The acquisition aligns with SPX's strategy to focus on high-growth, high-margin businesses within the HVAC and detection and measurement markets.
SPX expects to provide updated 2026 guidance incorporating the acquisition when it reports second-quarter results on July 30, 2026. The company’s leadership emphasized that the deal strengthens its position in the rapidly growing data center market, where demand for efficient and reliable HVAC systems is increasing.
"The acquisition of Neptronic enhances our ability to deliver comprehensive HVAC solutions to our customers," said a company spokesperson. "We are excited to welcome Neptronic's talented team to SPX and look forward to leveraging their expertise in intelligent controls."
SPX Technologies, based in Charlotte, North Carolina, is a supplier of highly engineered products and technologies with operations in 16 countries. The company is listed on the New York Stock Exchange under the ticker symbol “SPXC.” For more information, visit www.spx.com.
This acquisition underscores SPX's commitment to expanding its presence in mission-critical HVAC applications, particularly in data centers, health care, and education sectors. The integration of Neptronic's intelligent controls is expected to drive innovation and efficiency in SPX's product offerings.
For further details on the press release, visit https://ibn.fm/1hbNC.
