SPX Technologies Acquires Crawford United for Approximately $300 Million

Spartech Acquires Crawford Industries, L.L.C.

September 17, 2021

Manufacturing

Spartech, a St. Louis-based manufacturer of engineered thermoplastics, has acquired Crawford Industries, L.L.C., a custom thin-gauge polyethylene and polypropylene sheet extruder and converter with plants in Crawfordsville, Indiana and Thomasville, Georgia. The acquisition adds Crawford's printing, die-cutting and finishing capabilities to Spartech's platform, expanding Spartech's product portfolio and manufacturing capabilities in custom plastic sheet and packaging solutions.

SPX Technologies Acquires Ingénia Technologies

February 7, 2024

Manufacturing

SPX Technologies announced the acquisition of Ingénia Technologies for approximately CA$405 million (about US$300 million) in cash, adding a Mirabel, Quebec–based designer and manufacturer of custom air handling units to its Cooling platform. Ingénia, expected to generate roughly US$100 million of annualized revenue in 2024, expands SPX's Engineered Air Movement capabilities and is accretive to the company's HVAC segment growth and margin profile.

Ingersoll Rand to Acquire SPX FLOW’s Air Treatment Business

October 6, 2022

Industrial Services

Ingersoll Rand entered into an agreement to acquire SPX FLOW’s Air Treatment business for approximately $525 million in an all-cash transaction. The business makes desiccant and refrigerated compressed air dryers, filtration systems, and purifiers, with nearly 50% of revenue coming from recurring aftermarket sources. The deal is expected to close in the fourth quarter after regulatory approvals, integrating the business into Ingersoll Rand’s Industrial Technologies and Services segment.

Modine Acquires Scott Springfield Manufacturing

February 26, 2024

HVAC & Mechanical

Modine (NYSE: MOD) has entered into a definitive agreement to acquire Scott Springfield Manufacturing, a Calgary-based manufacturer of air handling units, for an enterprise value of approximately $190 million CAD (consideration paid in Canadian dollars). The acquisition — expected to close in Q1 2024 and financed with cash and debt — adds AHU manufacturing capabilities and a blue-chip customer base serving hyperscale and colocation data centers, healthcare, telecommunications and aerospace to Modine's HVAC and indoor air quality portfolio.

Hudson Technologies Acquires USA Refrigerants

June 10, 2024

Environmental Services

Hudson Technologies acquired USA United Suppliers of America Inc. (d/b/a USA Refrigerants) for $20.7 million, with up to $2.0 million in additional earnout consideration. USA Refrigerants is a national refrigerant distributor and longtime purchaser of recovered refrigerants; Hudson said the purchase will create a dedicated refrigerant acquisition group to expand its acquisition, reclamation and sales capabilities.

SPX Corporation Acquires Cincinnati Fan & Ventilator Co.

November 15, 2021

Manufacturing

SPX Corporation has entered into a definitive agreement to acquire Cincinnati Fan & Ventilator Co., Inc. from Dominus Capital. Cincinnati Fan, headquartered in Mason, Ohio with approximately 215 employees across the US and UK, supplies engineered air movement solutions and will be integrated into SPX's global HVAC Cooling business to expand capabilities and distribution.