SPX Technologies acquired SGS Refrigeration Inc. (“SGS”) for $10.0 million plus a deferred payment not to exceed $1.5 million, a transaction completed in July 2019, structured as all cash plus deferred payment.
SGS Refrigeration Inc. (“SGS”) operates in HVAC, had revenue of about approximately $12.0 million (twelve months prior to acquisition). SGS Refrigeration is a manufacturer of industrial refrigeration products.
Adds industrial refrigeration product capability to the HVAC platform.
HVAC reportable segment
Advisory firms were not disclosed for this transaction.