SPX Technologies Acquires Ingénia Technologies

SPX Technologies Acquires Thermolec

January 20, 2026

Manufacturing

SPX Technologies has completed the acquisition of Montréal-based Thermolec Ltd. for CA$195 million (approximately US$140 million). Thermolec, a manufacturer of custom electric duct heating and related HVAC solutions with nearly 200 employees and about US$35 million in annual revenue, will join SPX's HVAC Electric Heat business to expand product capabilities and grow sales in the U.S. and Canada.

SPX Technologies Completes Acquisition of Crawford United

February 6, 2026

HVAC & Mechanical

SPX Technologies has completed its acquisition of Crawford United Corporation, a Cleveland-based holding company focused on engineered air-handling and industrial products. The deal values Crawford United at approximately $300 million, with Crawford United merged into a subsidiary of SPX.

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.

SPX Technologies Acquires ASPEQ Heating Group from Industrial Growth Partners for $418M

June 2, 2023

Manufacturing

SPX Technologies (NYSE: SPXC) acquired ASPEQ Heating Group, a St. Louis-based provider of custom electric heating and thermal management products, for approximately $418 million. The transaction closed in June 2023 and expands SPX's HVAC heating portfolio by adding ASPEQ's brands and capabilities; the seller was private equity firm Industrial Growth Partners.

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.

Enjet Aero Acquires Enginetics Business from Standex International

March 31, 2021

Aerospace & Defense

Kansas City-based Enjet Aero has acquired Enginetics, a Dayton, Ohio precision components manufacturer, from Standex International Corporation. The acquisition adds Enginetics' metal forming, brazing, heat-treating and laser-drilling capabilities to Enjet's portfolio, expanding its engine-component manufacturing capabilities and customer reach in commercial and military aerospace.