SPX Technologies, Inc.
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- SPX Technologies, Inc. SPX Technologies, Inc. (NYSE: SPXC) is a diversified global supplier of highly engineered infrastructure equipment and technologies, with leadership positions in heating, ventilation, and air conditioning (HVAC) as well as detection and measurement markets; its HVAC segment designs, manufactures, installs, and services cooling towers, fluid coolers, evaporative condensers, air-cooled heat exchangers, engineered air movement and handling solutions, residential and commercial boilers, comfort heating products, vertical heat pumps, and self-contained units, while the detection and measurement segment provides underground pipe and cable locators, inspection equipment, bus-fare collection systems including the IoT-enabled Vendstar ticket vending machine, communication technologies such as tactical datalinks and RF countermeasures, and specialty lighting. Headquartered in Charlotte, North Carolina, with manufacturing facilities, sales offices, and service centers across North America, Europe, Asia-Pacific, and operations in 16 countries serving customers in 100 countries, the company traces its origins to 1911 as the Piston Ring Company and employs approximately 4,400 people. Recent developments include the April 2025 acquisition of Sigma & Omega to expand HVAC offerings with vertical heat pumps and self-contained units targeted at U.S. customers through increased domestic production; the December 2024 agreement to acquire Kranze Technology Solutions for $350 million, enhancing the Communication Technologies platform within detection and measurement with digital interoperability and tactical networking solutions projected to add $90 million in 2025 revenue and closing expected in Q1 2025; ongoing expansion of engineered air movement production capacity and U.S. production of Ingenia custom air handling units; launch of the Olympus Max dry and adiabatic cooling solution for large-scale data center applications aiming for $50 million in 2025 orders; a public offering of common stock and refinancing in 2025 to strengthen the balance sheet for organic growth and M&A; and this marks the 15th acquisition since 2018 scaling the CommTech platform beyond $200 million in revenue.
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