SPXC Acquires FIS Water for $410M to Boost Cooling Revenue
Published on Β· Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowSPX Technologies, Inc. (NYSE: SPXC) completed its acquisition of FIS Water, LLC for around $410 million in cash on September 15. FIS Water is forecasted to generate approximately $105 million in revenue in 2026, equating to about 3.9 times the expected annual revenue. This acquisition is intended to enhance SPX's offerings in the HVAC (heating, ventilation, and air conditioning) sector by integrating filtration and flow-control products. With the potential to increase revenue per customer, this move is pivotal for SPX as it seeks to expand its market presence in cooling solutions.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
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