SPX Technologies Acquires FIS Water in $410M Deal
On September 15, SPX Technologies (NYSE:SPXC) completed its acquisition of FIS Water for approximately $410 million in cash. The deal includes certain tax attributes and is expected to add around $105 million in annual revenue by the end of 2026. This strategic move aims to expand SPX's offerings within its Cooling segment, particularly enhancing products related to filtration, flow control, valves, and actuators for commercial and industrial cooling systems. The acquisition complements existing operations such as cooling towers and recently acquired Neptronic controls business by enabling cross-selling opportunities with shared customers. However, the announcement did not provide details on profitability or quantified synergies from FIS Water, leaving investors to assess potential returns based on revenue alone.
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