SPXC News & Events

SPX Technologies completed its acquisition of Crawford United Corporation. Crawford United's shareholders voted in support of the transaction and, pursuant to the merger agreement governing the transaction, Crawford United was merged with a subsidiary of SPX, with holders of Class A and Class B common stock of Crawford United being entitled to receive, after adjustments for satisfaction of indebtedness and payment of expenses, cash consideration of approximately $83.86 per share, representing an aggregate transaction value of approximately $300M. In connection with the acquisition, Crawford United's shares of common stock will cease trading on the OTC Pink Limited Market before the open of market.

SPX Technologies announced that it has completed the acquisition of Thermolec for a total cash consideration of CA$ 195 million, or $140M. "We are excited to welcome the Thermolec team to the SPX Technologies family," said Gene Lowe, President and CEO of SPX Technologies. "Thermolec is a natural extension of our Electric Heat strategy. Its custom electric heating solutions are highly complementary to our existing portfolio and strengthen the value we deliver to OEMs, distributors, and contractors across North America. By combining Thermolec's exceptional service, quality, and strong Canadian presence with our established Electric Heat channels in the U.S., we are creating a more complete and capable platform for our customers."

SPX Technologies (SPXC) announced the appointment of Daniel Whitman as its new Vice President, General Counsel & Secretary, effective January 5, 2026. He joins SPX following a 20-year career at Parker Hannifin (PH), including the last 14 years as Vice President, Law, Deputy General Counsel and Assistant Secretary.