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.