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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。