SPX Technologies, Inc. acquired IngéNia Technologies Inc. for approximately CAD 470 million.
February 06, 2024
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SPX Technologies, Inc. (NYSE:SPXC) acquired IngéNia Technologies Inc. for approximately CAD 410 million on February 7, 2024. This is SPX?s 14th acquisition since 2018. Blake, Cassels & Graydon LLP acted as legal advisor to SPX Technologies, Inc. and McCarthy Tétrault LLP acted as legal advisor to IngéNia Technologies Inc.
SPX Technologies, Inc. (NYSE:SPXC) completed the acquisition of IngéNia Technologies Inc. for approximately CAD 470 million on February 7, 2024. SPX acquired IngéNia for cash consideration of CAD 396.8 million, net of cash acquired of $1.5 million (CAD 2.02005 million). SPX assumed $49 million (CAD 65.9883 million) of total liabilities of IngéNia. In connection with the acquisition of Ingénia, the seller is eligible for additional contingent cash consideration of up to CAD 3 million, with payment scheduled to be made in the event certain contingent liabilities do not materialize.
SPX Technologies, Inc. is a diversified, global supplier of engineered products and technologies in the heating, ventilation, and air conditioning (HVAC) and detection and measurement markets. HVAC solutions offered by its businesses include package and process cooling equipment, residential and commercial boilers, comfort heating and ventilation products, and engineered air movement solutions. Its segments include HVAC, which engineers, designs, manufactures, installs and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as heating and ventilation products for the residential, industrial, and commercial markets, and Detection and Measurement segment that engineers, designs, manufactures, services, and installs underground pipe and cable locators, inspection and rehabilitation equipment, robotic systems, transportation systems, communication technologies, and obstruction lighting.
SPX TECHNOLOGIES, INC. 
