SPX Technologies, Inc. acquires Neptronic Inc. for C$605M

On July 22, 2026, SPX Technologies, Inc. ("SPX") acquired Neptronic Inc. ("Neptronic") for a cash consideration of C$605 million, subject to customary closing conditions. Following the acquisition, Neptronic will be integrated into SPX's heating, ventilation, and air conditioning ("HVAC") segment.

Neptronic is a Montréal, Québec-based manufacturer of HVAC products, including control systems, electric heaters, actuators, valves, and humidifiers.

Headquartered in Charlotte, North Carolina, SPX manufactures HVAC solutions as well as detection and measurement products and technologies.

McCarthy Tétrault LLP advised SPX with a team led by Chrystelle Chevalier‑Gagnon that included Laurence Cromp-Lapierre, Janie Lambert-Roy, Sheema Rezaei, Julia Buggé (Business), Eugen Miscoi (Privacy), Francis L. Racine, Ziad Shanab (Labour and Employment), Marie-Josée Marcoux, Xin Yue Zhang (Real Property and Planning), Julie Belley Perron, Solveig Ménard-Castonguay (Environment), Martha Harrison, Oksana Migitko (International Trade & Investment Law), Marie-Soleil Landry, François-Xavier Beaudry (Tax), Dominic Thérien, Benjamin Brown (Competition/Antitrust), Marjolaine Hémond Hotte, Amine Kanoun (Financial Services), Stephane Duval (Immigration), Vincent Yip, and Francis Langlois (Intellectual Property).