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