SPX Technologies Announces Acquisition of FIS Water

SPX Technologies closes a $410 million cash deal for FIS Water, adding about $105 million of expected 2026 revenue to its HVAC Cooling platform.

Rhea-AI Summary

SPX Technologies (SPXC) has completed the all-cash acquisition of FIS Water, including certain tax attributes, for approximately $410 million.

FIS Water, formed in 2018, provides highly engineered water management and control solutions for commercial and industrial cooling applications, primarily through its LAKOS, Puroflux, Superior, VAF and VSI brands. The business serves many of the same customers and channels as SPX’s existing Cooling platform, including data centers and other demanding environments.

FIS Water joins SPX’s HVAC segment and will operate within the Cooling platform. Its water management products are described as highly complementary to SPX’s cooling-tower offerings and its valve and actuator portfolio complements SPX’s recently acquired Neptronic business. FIS Water, headquartered in Fresno, California with about 120 employees, is expected to generate approximately $105 million of revenue in 2026. SPX plans to update 2026 guidance, including FIS Water’s impact, with its third-quarter 2026 results.

Positive

• Acquisition consideration approximately $410 million in cash, including certain tax attributes
• Expected FIS Water revenue approximately $105 million in 2026
• Headcount added about 120 FIS Water employees in Fresno, California
• Product fit complementary water management and HVAC control solutions within SPX’s Cooling and Neptronic platforms

Negative

• None.

Market Context

0.34% was SPXC’s 24-hour gain after the July 23 Neptronic acquisition announcement, a comparable HVA...

Analysis

0.34% was SPXC’s 24-hour gain after the July 23 Neptronic acquisition announcement, a comparable HVAC transaction that also preceded a planned 2026 guidance update; FIS Water’s update is scheduled with third-quarter results.

Key Figures

Cash consideration: $410 million Expected 2026 revenue: $105 million Employees: Approximately 120 employees

Cash consideration

$410 million

FIS Water acquisition

Expected 2026 revenue

$105 million

FIS Water

Employees

Approximately 120 employees

FIS Water

Previous Acquisition Reports

4 past events · Latest: Jul 23

Same Type 4 events

1. Jul 23

   Neptronic acquisition

   24h Move

   +0.3%

   Completed cash acquisition of an HVAC controls business and planned 2026 guidance incorporation.

2. Feb 06

   Crawford acquisition

   24h Move

   +2.0%

   Completed cash acquisition adding commercial air-handling businesses to HVAC segment.

3. Jan 20

   Thermolec acquisition

   24h Move

   +0.1%

   Completed Canadian electric duct-heating acquisition, with expected full-year guidance inclusion.

4. Apr 15

   Sigma & Omega acquisition

   24h Move

   -2.3%

   Completed hydronic heating and cooling acquisition, with planned U.S. expansion.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

tax attributes, hvac, oem, actuator

4 terms

tax attributes financial

"including certain tax attributes for a total cash consideration"

Tax attributes are the pieces of a company’s tax history—such as net operating loss carryforwards, tax credits, capital loss carryforwards, and adjusted tax basis—that affect how much tax the company will owe in future years. They matter to investors because these attributes can reduce future cash taxes or change the tax consequences of transactions, acting like coupons or offsets that can increase after-tax earnings and cash flow.

hvac technical

"FIS Water has joined SPX Technologies’ HVAC segment"

HVAC stands for heating, ventilation and air conditioning — the systems that control temperature, airflow and indoor air quality in buildings. Investors care because HVAC drives operating costs, energy use, tenant comfort and regulatory compliance; like the engine and insulation of a building, efficient modern systems can lower bills, reduce repair and replacement spending, and preserve property value, while outdated units can create unexpected expenses and vacancy risk.

oem technical

"global channels, OEM relationships, specification-driven sales capabilities"

OEM stands for Original Equipment Manufacturer, which is a company that produces parts or components used in the final products made by other companies. For investors, understanding OEMs is important because their performance can impact the supply chain and overall success of major industries, especially those relying on specialized parts. Think of OEMs as the suppliers that provide the building blocks for larger products, like the engine parts for a car.

actuator technical

"The company’s valve and actuator portfolio also complements"

An actuator is a mechanical component that converts an energy source (electricity, air, or fluid) into controlled movement or force, like a motor that opens a valve or moves a robotic arm. Investors pay attention because actuators determine how reliably and precisely a product or piece of factory equipment performs—think of them as the muscles of a device; their cost, durability and regulatory compliance affect manufacturing expenses, product quality, and liability risk.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Expands Cooling Platform with Complementary Water Management and Control Solutions

CHARLOTTE, N.C., Sept. 15, 2026 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE: SPXC) (“SPX Technologies” or the “Company”) announced today that it has completed the acquisition of FIS Water, LLC (“FIS Water”) including certain tax attributes for a total cash consideration of approximately $410 million.

Formed in 2018, FIS Water comprises a portfolio of well-established brands providing highly engineered water management and control solutions used primarily in commercial and industrial cooling applications. Its products help protect and optimize cooling systems by removing solids, maintaining water quality and controlling water flow. Through its LAKOS, Puroflux, Superior, VAF and VSI brands, the business serves many of the same customers and channels as SPX’s existing Cooling platform, including applications in data centers and other demanding commercial and industrial environments.

FIS Water has joined SPX Technologies’ HVAC segment and will operate within the Cooling platform. Its water management products are highly complementary to SPX’s cooling-tower offerings, with significant overlap across customers, engineering specifications and sales channels. The company’s valve and actuator portfolio also complements SPX’s recently acquired Neptronic business and expands SPX’s capabilities in HVAC control solutions.

SPX plans to support FIS Water’s growth through its global channels, OEM relationships, specification-driven sales capabilities and operating resources. Headquartered in Fresno, California, FIS Water has approximately 120 employees and is expected to generate revenue of approximately $105 million in 2026. SPX management will provide updated 2026 guidance, including the impact of FIS Water, when it reports its financial results for the third quarter of 2026.

“We are pleased to welcome FIS Water to SPX Technologies,” said Gene Lowe, President and CEO of SPX Technologies. “FIS Water is a natural extension of our Cooling platform. Its products are used in cooling systems to improve water quality, protect critical equipment and enhance system reliability, efficiency and asset life. The business also has significant customer and channel overlap with our existing Cooling operations. In addition, FIS Water’s valve and actuator portfolio complements Neptronic and expands our capabilities in HVAC control solutions. We see attractive opportunities to accelerate growth across the portfolio through SPX’s global channels, OEM relationships and specification-driven sales capabilities.”

“We are delighted to join SPX Technologies’ Cooling business,” said Scott Thomas, President of FIS Water. “SPX shares our commitment to product quality, application expertise and strong channel partnerships. Its established presence in cooling markets, global reach, OEM relationships and operating resources will help us accelerate growth while preserving the brands, customer relationships and entrepreneurial culture that have made FIS Water successful.”

About SPX Technologies, Inc. 

SPX Technologies is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in Charlotte, North Carolina, SPX has operations in 16 countries. SPX Technologies is listed on the New York Stock Exchange under the ticker symbol “SPXC.” For more information, please visit www.spx.com.

About FIS Water

FIS Water is a leading provider of highly engineered water management and control solutions used in commercial and industrial cooling applications and selected water source and distribution applications. Through its LAKOS, Puroflux, Superior, VAF and VSI brands, FIS Water provides products that help protect critical equipment, improve water quality and enhance system performance.

Forward Looking Statements: 

Statements in this press release that express a belief, expectation, or intention, as well as those that are not historical fact, including plans to expand FIS Water’s sales, are forward-looking statements under the Private Securities Litigation Reform Act of 1995. The words “intends,” “plans,” “will,” “believe,” “expected,” “anticipated,” and similar expressions identify forward-looking statements. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These forward-looking statements involve a number of risks and uncertainties that may cause actual events and results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to: risks that the acquisition disrupts current plans and operations of SPX Technologies or FIS Water; the risk that the disruption from the transaction may make it more difficult to maintain business and operational relationships, including retaining and hiring key personnel and maintaining relationships with FIS Water’s vendors and others with whom FIS Water does business; and risks and uncertainties with respect to SPX Technologies’ ability to recognize the anticipated benefits of the transaction, including expanding FIS Water’s sales. SPX Technologies’ filings with the Securities and Exchange Commission, including its most recent Form 10-K and Form 10-Q, describe other risks and uncertainties.

Statements in this press release speak only as of the date of this press release, and SPX Technologies disclaims any responsibility to update or revise such statements, except as required by law.

SPX Investor Contact:

Johann Rawlinson, Vice President, Investor Relations
Phone: 980.228.6028
Email: spx.investor@spx.com

Source: SPX Technologies

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Where will FIS Water reside within SPX Technologies’ organizational structure?

FIS Water has joined SPX Technologies’ HVAC segment and will operate within the company’s Cooling platform.

What types of products does FIS Water contribute to SPX Technologies?

FIS Water provides water management and control solutions that remove solids, maintain water quality and control water flow in cooling systems. It also offers a valve and actuator portfolio that complements SPX’s recently acquired Neptronic HVAC control solutions.

Which brands are included in the FIS Water acquisition?

The acquisition includes FIS Water’s portfolio of brands, specifically LAKOS, Puroflux, Superior, VAF and VSI, which serve commercial and industrial cooling and selected water source and distribution applications.

When will SPX Technologies update its 2026 financial guidance to reflect FIS Water?

SPX management plans to provide updated 2026 guidance, including the impact of FIS Water, when it reports its financial results for the third quarter of 2026.