SPX Technologies acquired T. A. Morrison & Co. Inc. (“TAMCO”) for $125.5 million (inclusive of a $0.2M working-capital adjustment; net of $1.0M cash acquired), a transaction completed in April 2023, structured as all cash.
T. A. Morrison & Co. Inc. (“TAMCO”) operates in HVAC. TAMCO is a market leader in motorized and non-motorized dampers that control airflow in large-scale specialty applications in commercial, industrial, and institutional markets.
Adds a market-leading damper franchise to SPX's engineered air movement HVAC platform.
Market leadership in airflow-control dampers with cross-sell and capacity-expansion potential. HVAC reportable segment CEO: “We really like this … engineered air movement. You talk about Ingénia, you talk about TAMCO, you talk about Strobic and Cincinnati Fan. We see a lot of runway here.”
Advisory firms were not disclosed for this transaction.