SPX Technologies acquired Sigma Heating and Cooling and Omega Heat Pump (“Sigma & Omega”) for $143.3 million (net of working-capital adjustment of $0.3M and cash acquired of $0.2M), a transaction completed in April 2025, structured as all cash.
Sigma Heating and Cooling and Omega Heat Pump (“Sigma & Omega”) operates in HVAC. Sigma & Omega specialize in highly engineered hydronic heating and cooling equipment, including vertical stack heat pumps and fan coils, institutional heating products, and both air-cooled and water-cooled commercial self-contained units.
The qualitative factors that comprise the recorded goodwill include expected domestic and global market growth for Sigma & Omega's existing operations and increased volumes achieved by selling Sigma & Omega products through existing SPX sales channels.
Expands SPX's engineered HVAC equipment portfolio and cross-sell opportunity through existing channels. HVAC reportable segment CEO, FY2025: “Total company revenues increased 10% year over year, primarily driven by the acquisition of KTS and Sigma Omega as well as higher project sales in detection and measurement.” On integration: “it's been about half a year with Kranze and maybe a quarter or so with Sigma & Omega … very good.”
Advisory firms were not disclosed for this transaction.