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 deal, which was disclosed in a press release, marks a significant expansion of SPX’s HVAC segment and its precision thermal management capabilities.
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 approximately 300 people and generates annual revenue of about US$75 million. Neptronic will become part of SPX Technologies’ HVAC segment, which is expected to benefit from the addition of its controls-enabled solutions.
SPX Technologies 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. This acquisition aligns with SPX’s strategy to provide intelligent, controls-enabled HVAC solutions, a market that is increasingly important as data centers and healthcare facilities demand more precise environmental control.
The acquisition comes at a time when the HVAC industry is shifting toward smart, energy-efficient systems that can be integrated with building management systems. Neptronic’s product lineup, which includes electronic actuators and valves, is critical for optimizing energy use in large facilities. By adding these capabilities, SPX Technologies strengthens its position in the growing market for intelligent building technologies.
SPX expects to provide updated 2026 guidance incorporating the acquisition when it reports second-quarter results on July 30, 2026. The company’s CEO noted that the acquisition is expected to contribute positively to earnings and cash flow in the near term. Analysts view the deal as a strategic move to capture more value in the HVAC aftermarket and new construction sectors.
The acquisition also highlights the ongoing consolidation in the HVAC industry, as larger players seek to acquire niche technology providers. For SPX Technologies, which already holds leadership positions in HVAC and detection and measurement markets, the addition of Neptronic’s intelligent controls enhances its ability to offer integrated solutions. The deal is expected to create cross-selling opportunities and drive revenue growth beyond Neptronic’s current US$75 million annual run rate.
Investors and industry observers will be watching for the impact on SPX’s financial performance when the company reports its second-quarter earnings. For more information on the acquisition, the full press release is available at https://ibn.fm/1hbNC.
SPX Technologies, based in Charlotte, North Carolina, operates in 16 countries and is listed on the New York Stock Exchange under the ticker “SPXC.” The company’s website is https://www.spx.com. Neptronic’s integration into the HVAC segment is expected to be completed in the coming months, with SPX providing further updates during its earnings call.
