About SPX Technologies

SPX Technologies, Inc. operates as a diversified, global supplier of infrastructure equipment serving the HVAC and detection and measurement markets. With operations in 15 countries, the company offers a wide array of highly engineered infrastructure products with strong brands. HVAC solutions offered by the company's businesses include package and process cooling equipment, engineered air movement solutions, residential and commercial boilers, electrical heating, and ventilation products. The company's market leading brands, coupled with its commitment to continuous innovation and focus on its customers' needs, enables its HVAC cooling and heating businesses to serve an expanding number of industrial, commercial and residential customers. The company's detection and measurement product lines encompass underground pipe and cable locators, inspection and rehabilitation equipment, robotic systems, transportation systems, communication technologies, and aids to navigation. The company's detection and measurement solutions enable utilities, telecommunication providers and regulators, and municipalities and transit authorities to build, monitor and maintain vital infrastructure. The company intends to expand its portfolio of specialized products through new, innovative hardware and software solutions in an attempt to further capitalize on the detection and measurement markets it serves and expand the number of markets that it serves. Segments The company operate through two segments: HVAC and Detection and Measurement. HVAC The segment engineers, designs, manufactures, installs and services 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. The primary distribution channels for the segment's products are direct to customers, independent manufacturing representatives, third-party distributors, and retailers. The segment serves a customer base in North America, Europe, and Asia. Core brands for the company's cooling products include Marley, Recold, SGS, Cincinnati Fan, TAMCO, and Ingenia, while its heating products are sold under the Berko, Qmark, Fahrenheat, Leading Edge, Patterson-Kelley, Weil-McLain, Williamson-Thermoflo, INDEECO, Heatrex, AccuTherm, Brasch, Spectrum, BannerDay PipeHeating, and Solar Products brands. Detection and Measurement The segment engineers, designs, manufactures, services, and installs underground pipe and cable locators, inspection and rehabilitation equipment, robotic systems, transportation systems, communication technologies, and aids to navigation. The primary distribution channels for the segment's products are direct to customers and third-party distributors. The segment serves a global customer base in North America, Europe, Africa and Asia. Core brands for the company's underground pipe and cable locators and inspection and rehabilitation equipment are Radiodetection, Pearpoint, Schonstedt, Dielectric, Riser Bond, Cues, ULC Robotics, and Sensors & Software. The company's transportation systems are sold under the Genfare brand, its communication technologies products are sold under the TCI and ECS brands, and its aids to navigation products are sold under the Flash Technology, ITL, Sabik Marine, Sealite, and Avlite brands. Acquisitions On February 7, 2024, the company completed the acquisition of Ingénia Technologies Inc. (Ingénia), which specializes in the design and manufacture of custom air handling units that demand high levels of precision and reliability in healthcare, pharmaceutical, education, food processing and industrial end markets. On April 3, 2023, the company completed the acquisition of T.A. Morrison & Co. Inc. (TAMCO), a market leader in motorized and non-motorized dampers that control airflow in large-scale specialty applications in commercial, industrial, and institutional markets. The post-acquisition operating results of TAMCO are reflected within the company's HVAC segment. On June 2, 2023, the company completed the acquisition of ASPEQ Heating Group (ASPEQ), a leading provider of electrical heating solutions to customers in industrial and commercial markets. The post-acquisition operating results of ASPEQ are reflected within the company's HVAC segment. International Operations The company is a multinational corporation with operations in over 15 countries. Research and Development The company expensed research activities relating to the development and improvement of its products of $43.2 in 2023. Patents/Trademarks The company owns 160 domestic and 360 foreign patents (comprising 140 patent families) (foreign patents include patents in individual countries in the European Union (EU, as well as EU-level patents), including 13 patents that were issued in 2023, covering a variety of its products and manufacturing methods. Seasonality Many of the company's businesses closely follow changes in the industries and end markets they serve. In addition, certain businesses have seasonal fluctuations. Historically, the company's businesses generally tend to be stronger in the second half of the year (year ended December 31, 2023). History The company was founded in 1912. The company was incorporated under the laws of Delaware in 1912. It was formerly known as Piston Ring Company and changed its name to SPX Corporation in 1988 and to SPX Technologies, Inc. in 2022.