SPX Technologies completed the acquisition of Montreal-based Neptronic Inc. for approximately US$430 million (CA$605 million) in cash.
Neptronic generates roughly US$75 million in annual revenue. The company manufactures intelligent controls, electric duct heaters, and humidifiers. These components serve mission-critical sectors including data centers and healthcare.
The deal strengthens SPX’s precision thermal management portfolio. SPX plans to scale Neptronic’s growth using its broader distribution channels. The company will issue updated 2026 financial guidance incorporating the acquisition on July 30.