SPX Technologies, Inc. (NYSE: SPXC) announced the completion of its acquisition of Neptronic Inc. for CA$605 million, approximately US$430 million, subject to customary closing adjustments. The acquisition, which was finalized on an undisclosed date, marks a significant step in SPX's strategy to expand its HVAC segment with intelligent, controls-enabled solutions.
Montreal-based Neptronic designs and manufactures intelligent controls, electric duct heaters, humidifiers, actuators, and valves. The company's products are used in mission-critical applications including data centers, health care, and education. Neptronic employs approximately 300 people and generates annual revenue of about US$75 million.
With this acquisition, Neptronic will join the SPX Technologies HVAC segment, enhancing SPX's precision thermal management portfolio. 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. According to the press release, SPX expects to provide updated 2026 guidance incorporating the acquisition when it reports second-quarter results on July 30, 2026.
The acquisition underscores the growing importance of intelligent HVAC systems in high-demand environments. Data centers, in particular, require precise temperature and humidity control to maintain server performance and reliability. By integrating Neptronic's smart controls and actuators, SPX can offer more efficient and responsive thermal management solutions. This could benefit industries reliant on continuous operations, such as healthcare facilities and educational institutions, where climate control is critical for both equipment and occupant comfort.
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 symbol “SPXC.”
For more information about SPX Technologies, visit www.spx.com.
