SPX Technologies (NYSE: SPXC) has completed the acquisition of Neptronic Inc. for CA$605 million (approximately US$430 million), subject to customary closing adjustments, the company announced. Montreal-based Neptronic designs and manufactures intelligent controls, electric duct heaters, humidifiers, actuators, and valves for mission-critical applications including data centers, health care, and education. The company employs about 300 people and generates annual revenue of approximately US$75 million.
Neptronic will join the SPX Technologies HVAC segment, expanding its precision thermal management portfolio and advancing 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 acquisition aligns with SPX’s focus on highly engineered products and technologies in the HVAC and detection and measurement markets.
The deal is expected to enhance SPX’s capabilities in serving high-growth sectors such as data centers, which require precise environmental control for optimal performance. The integration of Neptronic’s intelligent controls and components allows SPX to offer more comprehensive solutions to customers in these critical industries. SPX expects to provide updated 2026 guidance incorporating the acquisition when it reports second-quarter results on July 30, 2026.
For more information, visit the full press release and the SPX Technologies website at www.spx.com.
