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 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.

Seven2 Acquires Infraneo; Infraneo Acquires Antémys

July 11, 2023

Engineering Services

Seven2 (formerly Apax Partners) has acquired a majority stake in Infraneo from Sparring Capital to support the group's European expansion and digital transformation. Simultaneously, Infraneo acquired Antémys, a Rhône‑Alpes geotechnical specialist (≈40 employees), strengthening Infraneo's territorial coverage; the group now has over 500 employees and a pro forma 2022 revenue of €56 million.

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.