SPX Technologies acquired Thermolec Ltd. for approximately $141.5 million (net cash consideration), a transaction completed in January 2026, structured as all cash.
Thermolec Ltd. operates in HVAC. Thermolec specializes in custom electric duct heating and related solutions.
Extends SPX's electric heating franchise (Marley Engineered Products, ASPEQ) into custom duct heating.
HVAC reportable segment
Advisory firms were not disclosed for this transaction.