SPX Technologies completed the CA$605 million acquisition of Neptronic, a Montreal-based HVAC controls maker with about 300 employees and roughly US$75 million in annual revenue, signaling a strategic expansion of SPX’s HVAC segment and its intelligent controls portfolio, with an EBITDA multiple modestly above SPX’s 8-12x range. The deal aims to broaden channel access, scale the business with SPX’s resources, and accelerate growth across global markets, with 2026 guidance to reflect Neptronic’s impact.

Business· Jul 23, 2026

Facts from Wikidata (CC0). Image by SPX Corporation via Wikimedia Commons (Public domain).

SPX Corporation

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SPX Corporation· Business · 9 sources · Jul 23, 2026Story

SPX Technologies Completes Neptronic Acquisition CA$605M

Business· Jul 23, 2026

Facts from Wikidata (CC0). Image by SPX Corporation via Wikimedia Commons (Public domain).

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About SPX Corporation

SPX Technologies, Inc. is an American manufacturing company, headquartered in Charlotte, North Carolina. The company operates within four markets: heating, ventilation, and air conditioning (HVAC), detection and measurement, power transmission and generation, and engineered solutions. Examples of SPX's products include cooling towers and boilers, underground pipe and cable locators, power transformers, and heat exchangers. Brands include Waukesha, Dielectric, Genfare, Fahrenheat, Radiodetection, and Pearpoint. SPX operates in 17 countries with a sales presence in 100 countries, and over 6,000 employees worldwide. In 2019, the company earned approximately $1.5 billion in annual revenue.

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Country: United States
Headquarters: Charlotte
Inception: 1912
Website: http://www.spx.com

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