SPX Technologies acquired Patterson-Kelley, LLC for $59.9 million, a transaction completed in November 2019, structured as all cash.
Patterson-Kelley, LLC operates in HVAC, had revenue of about approximately $35.0 million (twelve months prior to acquisition). Patterson-Kelley is a manufacturer and distributor of commercial boilers and water heaters.
Adds commercial boiler and water-heater capacity to SPX's heating-focused HVAC platform.
HVAC reportable segment
Advisory firms were not disclosed for this transaction.