SPX Technologies Announces Acquisition of Neptronic

SPX Technologies announced it has completed the acquisition of Neptronic for CA$605 million (about US$430 million), strengthening its HVAC segment with controls, electric duct heaters, humidifiers, actuators and valves. The deal expands SPX’s position in precision thermal management and supports its push toward more intelligent, controls-enabled HVAC systems, especially for mission-critical end markets such as data centers, healthcare and education. Neptronic adds roughly US$75 million in annual revenue and about 300 employees. Management said the transaction should help accelerate growth through broader channel access and cross-selling across SPX’s platform. SPX also indicated it will update 2026 guidance on July 30, 2026, when it reports Q2 results, suggesting investors will soon see the financial impact of the acquisition. Overall, the announcement is strategically positive for SPX, but near-term market focus will be on integration execution, valuation, and updated guidance.