SPX Technologies Acquires Thermolec For ~$140M
Benzinga Newsdesk 9 months ago
News
SPX Technologies, Inc. (NYSE:SPXC) ("SPX Technologies" or the "Company") announced today that it has completed the acquisition of Thermolec Ltd. ("Thermolec") for a total cash consideration of CA$ 195 million
SPX Technologies, Inc. (NYSE:SPXC) ("SPX Technologies" or the "Company") announced today that it has completed the acquisition of Thermolec Ltd. ("Thermolec") for a total cash consideration of CA$ 195 million (approximately US$ 140 million).
Founded in 1973, Thermolec is a Montréal-based manufacturer of custom electric duct heating and related solutions, offering a differentiated set of products across commercial, multi-family residential, and light industrial applications. With nearly 200 employees, Thermolec generates annual revenues of approximately US$ 35 million.