By Kelly Cloonan
SPX Technologies has acquired Sigma Heating and Cooling and Omega Heat Pump for $144 million.
The supplier of engineered products and technologies said Tuesday the acquisition expands its HVAC solutions to include vertical heat pumps and self-contained units.
Sigma & Omega, a Toronto-based manufacturer of hydronic heating and cooling equipment, is expected to have about $65 million in annualized revenue in 2025, SPX said.
SPX said it plans to increase Sigma & Omega's U.S. sales with the help of expanded U.S. production. A majority of the company's sales currently come from domestic Canadian customers.
Chief Executive Gene Lowe said the acquisition strategically positions SPX for continued growth in attractive end markets like high-rise residential buildings, hotels, schools, hospitals and commercial properties across North America.
The acquisition also creates potential savings within SPX's existing HVAC business, he said.
"Sigma & Omega's vertical stack water sourced heat pumps and fan coils, and commercial self-contained units are frequently paired with hydronics equipment and cooling towers, creating numerous opportunities to leverage our existing channels," Lowe said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 15, 2025 17:13 ET (21:13 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。