SPX Technologies, Inc. completed a $300 million acquisition of Crawford United Corporation’s Commercial Air‑Handling Equipment segment on February 6 2026. The deal brings the Air Enterprises and Rahn Industries businesses under SPX’s HVAC umbrella, adding a new manufacturing footprint and complementary coil technology to the company’s product line.
The acquired segment generated $81.6 million in sales and $22.8 million in operating profit in the trailing twelve months, representing a 28% operating margin. By integrating these high‑margin custom air‑handling solutions, SPX expects to lift its overall margin profile and accelerate growth in data‑center and industrial cooling markets, where demand for efficient, scalable HVAC systems is rising.
SPX will divest Crawford United’s Industrial & Transportation Products segment, which serves aerospace, defense, transportation and marine markets. The divestiture aligns with SPX’s focus on core HVAC capabilities and frees capital for further acquisitions and product development in its high‑growth areas.
Gene Lowe, SPX’s President and CEO, said the acquisition “strengthens our HVAC platform and expands our ability to deliver end‑to‑end solutions to customers in healthcare, universities, pharmaceuticals, advanced manufacturing and commercial markets.” The comment underscores the strategic fit and the company’s confidence in the integration of the new businesses.
Market reaction to the completion was positive, with SPX’s stock rising 2.47% on the day of the transaction. The modest gain reflects investor approval of the strategic fit and the continued execution of SPX’s acquisition‑driven growth strategy.
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