Montreal

SPX Technologies Completes Neptronic Acquisition CA$605M

SPX Technologies completed the CA$605 million acquisition of Neptronic, a Montreal-based HVAC controls maker with about 300 employees and roughly US$75 million in annual revenue, signaling a strategic expansion of SPX’s HVAC segment and its intelligent controls portfolio, with an EBITDA multiple modestly above SPX’s 8-12x range. The deal aims to broaden channel access, scale the business with SPX’s resources, and accelerate growth across global markets, with 2026 guidance to reflect Neptronic’s impact.