Business
SPX Technologies to Acquire Crawford United
Expands SPX Technologies’ HVAC Capabilities with Highly Engineered Custom Air-Handling SolutionsCHARLOTTE, N.C. and CLEVELAND, Dec. 08, 2025 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) (“SPX” or the “Company”) and Crawford United Corporation (OTC: CRAWA) (“Crawford United”) announced today that they have entered into a definitive agreement for SPX to acquire Crawford United, a Cleveland-based holding company with a broad portfolio of highly engineered air handling and industrial produ
About this update from Spx Technologies, Inc.
[{"type":"text","content":"Expands SPX Technologies’ HVAC Capabilities with Highly Engineered Custom Air-Handling Solutions","length":96,"tagName":"p"},{"type":"text","content":"CHARLOTTE, N.C. and CLEVELAND, Dec. 08, 2025 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) (“SPX” or the “Company”) and Crawford United Corporation (OTC: CRAWA) (“Crawford United”) announced today that they have entered into a definitive agreement for SPX to acquire Crawford United, a Cleveland-based holding company with a broad portfolio of highly engineered air handling and industrial products.","length":408,"tagName":"p"},{"type":"text","content":"The agreement provides for Crawford United to merge with a subsidiary of SPX, with holders of Class A and Class B common stock of Crawford United to receive, after adjustments for satisfaction of indebtedness and payment of expenses, estimated cash consideration of approximately $83.42 per share, representing an aggregate transaction value of $300 million.","length":358,"tagName":"p"},{"type":"text","content":"The addition of Crawford United’s Commercial Air-Handling Equipment segment, comprised of Air Enterprises and Rahn Industries businesses, will expand SPX’s HVAC portfolio of custom air handling solutions and enhance its coil offering, bringing complementary technologies, design capabilities, and manufacturing footprint. Together, these capabilities will advance SPX’s strategy to deliver differentiated solutions, drive long-term value for customers and shareholders, and align well with its capital deployment strategy of acquiring high-engineering content businesses. The Commercial Air-Handling Equipment segment reported sales of $81.6 million and segment operating profit of $22.8 million during the trailing twelve-month period ended September 30, 2025.","length":761,"tagName":"p"},{"type":"text","content":"“We are excited to welcome the Crawford United team,” said Gene Lowe, SPX Technologies President & CEO. “Their commercial air-handling business is an excellent fit for our HVAC platform, strengthening our ability to deliver end-to-end solutions to customers in healthcare, universities, pharmaceutical, advanced manufacturing and commercial markets. This acquisition will advance our growth strategy and further differentiate SPX as a leader in engineered solutions.”","length":471,"tagName":"p"},{"type":"text","content...