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, first reported earlier this year, adds Montreal-based Neptronic's product line of intelligent controls, electric duct heaters, humidifiers, actuators, and valves to SPX's HVAC segment.
Neptronic focuses on mission-critical applications including data centers, health care, and education. The company employs about 300 people and generates annual revenue of roughly US$75 million. By integrating Neptronic, SPX Technologies aims to expand its precision thermal management portfolio and advance its strategy 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. The company expects to provide updated 2026 guidance incorporating the acquisition when it reports second-quarter results on July 30, 2026.
SPX Technologies, based in Charlotte, North Carolina, is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. The company operates in 16 countries and is listed on the New York Stock Exchange under the ticker “SPXC.”
The acquisition underscores the growing demand for advanced HVAC controls in critical infrastructure, particularly as data centers and healthcare facilities require more precise environmental management. For investors, the deal positions SPX to capture a larger share of the intelligent building solutions market, potentially driving revenue growth and margin expansion.
For more information, visit SPX Technologies.
