SPX Technologies
American manufacturing company
From Wikipedia, the free encyclopedia
SPX Technologies, Inc. is an American manufacturing company, headquartered in Charlotte, North Carolina.[1][2][3] The company operates within four markets: heating, ventilation, and air conditioning (HVAC), detection and measurement, power transmission and generation, and engineered solutions.[1][2][3][4][5] Examples of SPX's products include cooling towers and boilers, underground pipe and cable locators, power transformers, and heat exchangers.[5] Brands include Waukesha, Dielectric, Genfare, Fahrenheat, Radiodetection, and Pearpoint.[5] SPX operates in 17 countries with a sales presence in 100 countries, and over 6,000 employees worldwide.[3][5] In 2019, the company earned approximately $1.5 billion in annual revenue.[3]
 | |
| Formerly | SPX Corporation |
|---|---|
| Type | Public |
| Industry | Multi-industry |
| Founded | 1912 in Muskegon, Michigan |
| Headquarters | Charlotte, North Carolina, U.S. |
| Key people | Eugene Joseph Lowe (CEO) |
| Products | Cooling towers, boilers, cable locators, power transformers |
| Revenue | $2.265 billion (2025) |
Number of employees | 4,300 (December 31, 2024) |
| Website | www |
History
SPX was founded on December 20, 1911, in Muskegon, Michigan, as the Piston Ring Company by Charles E. Johnson and Paul R. Beardsley.[6][7][8] The company was entirely devoted to the production of piston rings of leading engine builders.[7] In 1925, Piston Ring bought the No-Leak-O Piston Ring Company, allowing the company to increase production of engine components.[7][9] After acquiring Accuralite Company in 1931, the company changed its name to Sealed Power Corporation and also started manufacturing piston rings, pistons and cylinder sleeves for various military applications.[6]
Sealed Power Co.’s first plant opened outside Muskegon in 1946.[7][8] In 1957, a Replacement Distribution Center was added in LaGrange, Indiana. The new distribution center serviced 33 smaller distribution outlets in major cities throughout the United States and Canada.[7][8]
The company acquired Kent-Moore Corporation in 1982. Within its first year, Kent-Moore contributed $86 million to Sealed Power.[7][10] In 1985, Sealed Power expanded even further by acquiring the Owatonna Tool Company (OTC) and its subsidiaries.[7][10] That same year the V.L. Churchill Group of Daventry, England, was also acquired, giving Sealed Power an international overseas presence.[7] Through its multiple acquisitions, the company broadened its production and market scope. In 1988, the company changed its name to SPX Corporation. For the next 10 years, they remained a U.S.-centric automotive component manufacturer with nearly $1 billion in sales.[6] In 1998, General Signal Corporation was acquired for $2.3 billion, specializing in production of process control, electrical control, and industrial technological industries.[7][11] United Dominion Industries Limited, a manufacturer of engineered products, was acquired in 2001.[7][12] SPX's headquarters relocated to Charlotte, North Carolina, in 2002.[7]
In 2012, SPX president Charles E Johnson II sold its Service Solutions business for approximately $1.15 billion to Robert Bosch GmbH.[13][14][15]
In 2015, SPX Flow was founded, a spin-off from its parent company.[16] Led by Chris Kearney and Jeremy Smeltser, SPX Flow supplies highly engineered flow components, process equipment, and turn-key systems to food and beverage, power and energy, and industrial end markets.[16] After splitting from SPX Flow, SPX acquired both CUES Inc., a pipeline inspection manufacturer, and Schonstedt Instrument Co., a manufacturer and distributor of magnetic locator products, in 2018.[17][18] TSPX Flow was acquired by Lone Star Funds for $3.8 billion in 2022.[19]
In December 2015, SPX announced that it would also acquire the marine and aviation warning-light corporation Carmanah Technologies.[20]
In 2019, the corporation acquired SGS Refrigeration Inc., a manufacturer and supplier of industrial refrigeration products, following its ongoing partnership since 2015.[21] Patterson-Kelley was acquired that same year to join SPX's HVAC solutions division.[22]
In September 2020, SPX acquired ULC Robotics Inc., a developer of robotics systems and inspection technology for natural gas networks, in a $135 million deal.[23][24] Sensors & Software Inc. was also acquired by SPX in November 2020. Sensors & Software Inc. is an Ontario-based manufacturer and distributor of Ground Penetrating Radar (GPR) products used for geotechnical and geological investigations, unexploded ordnance detection, and locating underground utilities. The company joined SPX's Radiodetection business unit.[3] From 2017 to 2020, SPX's earnings per share (EPS) has grown by 70% per year. Its revenue is up by 1.6% in 2020.[25]
In February 2024, SPX expanded its HVAC business by acquiring, Ingenia Technologies,[26] a Canadian manufacturer of custom commercial air quality systems, headquartered in Mirabel, Quebec, for $300 million.[27]