{"id":984026,"date":"2026-07-23T07:00:31","date_gmt":"2026-07-23T11:00:31","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/spx-technologies-announces-acquisition-of-neptronic\/"},"modified":"2026-07-23T07:00:31","modified_gmt":"2026-07-23T11:00:31","slug":"spx-technologies-announces-acquisition-of-neptronic","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/spx-technologies-announces-acquisition-of-neptronic\/","title":{"rendered":"SPX Technologies Announces Acquisition of Neptronic"},"content":{"rendered":"<h2>\nExpands SPX Technologies\u2019 HVAC Capabilities with Custom HVAC Control and Engineered Air Management Solutions<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p>CHARLOTTE, N.C., July  23, 2026  (GLOBE NEWSWIRE) &#8212; SPX Technologies, Inc. (NYSE: SPXC) (\u201cSPX\u201d or the \u201cCompany\u201d) announced today that it has completed the acquisition of Neptronic Inc. (\u201cNeptronic\u201d) for a total cash consideration of CA$ 605 million (approximately US$ 430 million), subject to customary closing adjustments. The multiple of enterprise value to earnings before interest, tax, depreciation and amortization (\u201cEBITDA multiple\u201d) implied in the transaction is modestly above the upper-end of the Company\u2019s recently transacted range of 8-12x.<\/p>\n<p>Neptronic designs and manufactures highly engineered HVAC solutions including intelligent controls, electric duct heaters, humidifiers, actuators\u00a0and valves.\u00a0Neptronic serves customers through a strong network of OEMs and channel partners, focused on mission-critical applications including data centers, healthcare and education. Based in Montreal, Canada, Neptronic has about 300 employees and generates annual revenues of approximately US$ 75 million.<\/p>\n<p>Neptronic will become part of SPX Technologies\u2019 HVAC segment, expanding the Company\u2019s position in precision thermal management solutions and expanding its offering with high-quality brands and products that it can leverage across its platform and geographic footprint. The addition of Neptronic strengthens SPX\u2019s portfolio with differentiated controls, electric duct heaters, actuators, actuated valves, and humidifiers &#8211; strategic product categories with strong market fundamentals and a natural fit within the Company\u2019s existing sales channels. Neptronic\u2019s technology platform further advances SPX\u2019s evolution toward delivering intelligent, controls-enabled HVAC solutions for customers globally.<\/p>\n<p>SPX intends to accelerate Neptronic\u2019s growth by expanding channel access and customer reach and by providing the capital and operational resources to scale the business while preserving its innovation-led culture and speed to market. Neptronic\u2019s solutions are also expected to be leveraged across the broader SPX HVAC portfolio, enabling more intelligent, fully integrated HVAC solutions.<\/p>\n<p>\u201cWe are excited to welcome Neptronic to the SPX Technologies team,\u201d said Gene Lowe, SPX Technologies President and CEO. \u201cNeptronic\u2019s differentiated controls and thermal management solutions are highly complementary to our existing portfolio and further advance our HVAC growth strategy. The addition of Neptronic expands our capabilities as an integrated controls-enabled systems provider and enhances our portfolio with highly complementary product categories that can be leveraged across our HVAC platform and global footprint.\u201d<\/p>\n<p>\u201cJoining SPX Technologies represents an exciting opportunity for Neptronic,\u201d said Biagio Di\u202fLorenzo, CFO and President of Neptronic. \u201cSPX\u2019s scale, operational resources and strong channel relationships in the HVAC market will help accelerate our growth while preserving the engineering expertise, innovation and customer focus that have defined our business for nearly 50 years.\u201d<\/p>\n<p>SPX management plans to provide updated 2026 guidance, incorporating the impact of\u00a0Neptronic,\u00a0on\u00a0July 30, 2026, when\u00a0SPX Technologies\u00a0reports Q2 2026 results.<\/p>\n<p>\n        <strong>About\u00a0SPX Technologies, Inc:\u00a0<\/strong>SPX Technologies\u00a0is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in\u00a0Charlotte, North Carolina, SPX has operations in 16 countries.\u00a0SPX Technologies\u00a0is listed on the\u00a0New York Stock Exchange\u00a0under the ticker symbol \u201cSPXC.\u201d For more information, please visit\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=AWisHhk3WfFy-kwGJ4DbasFEBuaJQq7fnKujP40q3naVZtFl1Tp-AvYCaYK98HUg2jHkHYvVth4Bsa6B3LZgjg==\" rel=\"nofollow\" target=\"_blank\">www.spx.com<\/a>.<\/p>\n<p>\n        <strong>About Neptronic Inc.: <\/strong>Founded in 1976 in Montr\u00e9al, Quebec, Neptronic\u00a0designs and manufactures\u00a0engineered\u00a0HVAC solutions\u00a0including intelligent controllers, electric heaters, humidifiers, actuators\u00a0and valves.\u00a0Neptronic\u00a0employs\u00a0more than 300\u00a0employees\u00a0in\u00a0an integrated\u00a093,000-square-foot\u00a0facility.\u00a0\u00a0\u00a0<\/p>\n<p>\n        <strong>Forward Looking Statements:\u00a0<\/strong>\n      <\/p>\n<p>Statements in this press release that express a belief, expectation, or intention, as well as those that are not historical fact, including plans to expand Neptronic\u2019s\u00a0sales, are forward-looking statements under the Private Securities Litigation Reform Act of 1995. The words \u201cintends,\u201d \u201cplans,\u201d \u201cwill,\u201d \u201cbelieve,\u201d \u201cexpected,\u201d \u201canticipated,\u201d and similar expressions identify forward-looking statements. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These forward-looking statements involve a number of risks and uncertainties that may cause actual events and results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to: risks that the acquisition disrupts current plans and operations of\u00a0SPX Technologies\u00a0or\u00a0Neptronic; the risk that the disruption from the transaction may make it more difficult to maintain business and operational relationships, including retaining and hiring key personnel and maintaining relationships with Neptronic\u2019s vendors and others with whom\u00a0Neptronic\u00a0does business; and risks and uncertainties with respect to SPX Technologies\u2019 ability to recognize the anticipated benefits of the transaction, including expanding Neptronic\u2019s sales. SPX Technologies\u2019 filings with the Securities and Exchange Commission, including its most recent Form 10-K and Form 10-Q, describe other risks and uncertainties.<\/p>\n<p>Statements in this press release speak only as of the date of this press release, and\u00a0SPX Technologies\u00a0disclaims any responsibility to update or revise such statements, except as required by law.<\/p>\n<p>\n        <strong>SPX Investor Contact:<\/strong>\n      <\/p>\n<p>Johann Rawlinson, Vice President, Investor Relations<br \/>Phone: 980.228.6028<br \/>Email:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=rSJz87G4UXJhUCwhLzXjiSG7QZ4iak2bLgBsCzRZzI4ThDstQ9xsokfpsmIm-YX4v7IIUbTwoRob9FVsAxnwlSOGk9j-b84BWJuPHi-AveAfl2iAcUpYLgnDkRGyPYGuwyUmtIXfAX9ZRAPfILbfydbq49ZOYJ53mrS_y-_V-MBLnPwvotOxvHlYFxzZ13ChUZFPX6XacSgeP3hMEakO_vLqTkR2VnF9Hip0pvZC7HXV4TjpvD3xZNCn2TTT0eRTzXgUCW2w8fiq-NEQXapp5qnXVB1Renvd_o0YgpAAEmccqhyZr_ziFdOYyThuSlinfDDsw1-CbSQBHuvTyOJQu-nBMKHxGh5LIcx8os2bRQbiKvWMOUF4mx--jWaf6xCX5Ejihj_w-7bRaW2VXJbVCNEd_H6DbebqTTgsTWSEQAF4huQCsQhYvHxyUWAqVreSu08nLhx6J3LIUbJ_3kqzTeFTyMuehUvM9KXSUlF3KXwn2q3x8g3cF6IklgyejZzy\" rel=\"nofollow\" target=\"_blank\">spx.investor@spx.com<\/a><\/p>\n<p>Source:\u00a0SPX Technologies<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTc2NjU2NiM3NzE4NzcyIzIwMDU5NTU=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/MDc0ODkzOTItYzI4Zi00OGMwLThiMGMtYzRiNjBhOGNlYzZkLTEwMTc1MjgtMjAyNi0wNy0yMy1lbg==\/tiny\/SPX-Technologies.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Expands SPX Technologies\u2019 HVAC Capabilities with Custom HVAC Control and Engineered Air Management Solutions CHARLOTTE, N.C., July 23, 2026 (GLOBE NEWSWIRE) &#8212; SPX Technologies, Inc. (NYSE: SPXC) (\u201cSPX\u201d or the \u201cCompany\u201d) announced today that it has completed the acquisition of Neptronic Inc. (\u201cNeptronic\u201d) for a total cash consideration of CA$ 605 million (approximately US$ 430 million), subject to customary closing adjustments. The multiple of enterprise value to earnings before interest, tax, depreciation and amortization (\u201cEBITDA multiple\u201d) implied in the transaction is modestly above the upper-end of the Company\u2019s recently transacted range of 8-12x. Neptronic designs and manufactures highly engineered HVAC solutions including intelligent controls, electric duct heaters, humidifiers, actuators\u00a0and valves.\u00a0Neptronic serves customers through a strong network of OEMs and channel &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/spx-technologies-announces-acquisition-of-neptronic\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SPX Technologies Announces Acquisition of Neptronic&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-984026","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SPX Technologies Announces Acquisition of Neptronic - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/spx-technologies-announces-acquisition-of-neptronic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SPX Technologies Announces Acquisition of Neptronic - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Expands SPX Technologies\u2019 HVAC Capabilities with Custom HVAC Control and Engineered Air Management Solutions CHARLOTTE, N.C., July 23, 2026 (GLOBE NEWSWIRE) &#8212; SPX Technologies, Inc. (NYSE: SPXC) (\u201cSPX\u201d or the \u201cCompany\u201d) announced today that it has completed the acquisition of Neptronic Inc. (\u201cNeptronic\u201d) for a total cash consideration of CA$ 605 million (approximately US$ 430 million), subject to customary closing adjustments. The multiple of enterprise value to earnings before interest, tax, depreciation and amortization (\u201cEBITDA multiple\u201d) implied in the transaction is modestly above the upper-end of the Company\u2019s recently transacted range of 8-12x. Neptronic designs and manufactures highly engineered HVAC solutions including intelligent controls, electric duct heaters, humidifiers, actuators\u00a0and valves.\u00a0Neptronic serves customers through a strong network of OEMs and channel &hellip; Continue reading &quot;SPX Technologies Announces Acquisition of Neptronic&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/spx-technologies-announces-acquisition-of-neptronic\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-23T11:00:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTc2NjU2NiM3NzE4NzcyIzIwMDU5NTU=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/spx-technologies-announces-acquisition-of-neptronic\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/spx-technologies-announces-acquisition-of-neptronic\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"SPX Technologies Announces Acquisition of Neptronic\",\"datePublished\":\"2026-07-23T11:00:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/spx-technologies-announces-acquisition-of-neptronic\\\/\"},\"wordCount\":811,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/spx-technologies-announces-acquisition-of-neptronic\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTc2NjU2NiM3NzE4NzcyIzIwMDU5NTU=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/spx-technologies-announces-acquisition-of-neptronic\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/spx-technologies-announces-acquisition-of-neptronic\\\/\",\"name\":\"SPX Technologies Announces Acquisition of Neptronic - 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(NYSE: SPXC) (\u201cSPX\u201d or the \u201cCompany\u201d) announced today that it has completed the acquisition of Neptronic Inc. (\u201cNeptronic\u201d) for a total cash consideration of CA$ 605 million (approximately US$ 430 million), subject to customary closing adjustments. The multiple of enterprise value to earnings before interest, tax, depreciation and amortization (\u201cEBITDA multiple\u201d) implied in the transaction is modestly above the upper-end of the Company\u2019s recently transacted range of 8-12x. Neptronic designs and manufactures highly engineered HVAC solutions including intelligent controls, electric duct heaters, humidifiers, actuators\u00a0and valves.\u00a0Neptronic serves customers through a strong network of OEMs and channel &hellip; Continue reading \"SPX Technologies Announces Acquisition of Neptronic\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/spx-technologies-announces-acquisition-of-neptronic\/","og_site_name":"Market Newsdesk","article_published_time":"2026-07-23T11:00:31+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTc2NjU2NiM3NzE4NzcyIzIwMDU5NTU=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/spx-technologies-announces-acquisition-of-neptronic\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/spx-technologies-announces-acquisition-of-neptronic\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"SPX Technologies Announces Acquisition of Neptronic","datePublished":"2026-07-23T11:00:31+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/spx-technologies-announces-acquisition-of-neptronic\/"},"wordCount":811,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/spx-technologies-announces-acquisition-of-neptronic\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTc2NjU2NiM3NzE4NzcyIzIwMDU5NTU=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/spx-technologies-announces-acquisition-of-neptronic\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/spx-technologies-announces-acquisition-of-neptronic\/","name":"SPX Technologies Announces Acquisition of Neptronic - 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