SPX Mergers and Acquisitions Summary

MachineryCompany

SPX has acquired 20 companies, including 6 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 23 assets.

SPX’s largest acquisition to date was in 1998, when it acquired General Signal for $2.3B. It’s largest disclosed sale occurred in 2004, when it sold Edwards Systems Technology to General Electric Company for $1.4B. SPX has acquired in 10 different US states, and 8 countries. The Company’s most targeted sectors include machinery (30%) and manufacturing (25%).

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M&A Summary

  • M&A Total Activity43
    • M&A Buy Activity20
    • M&A Sell Activity23
  • Total Sectors Invested 8
  • Total Countries Invested 8
  • M&A Buy/Sell Connections 34
  • M&A Advisors 5

SPX

SPX Corp.

6325 Ardrey Kell Road Suite 400,
Charlotte, North Carolina 28277
United States,
(980) 474-3700
www.spx.com

SPX is a global supplier of highly specialized, engineered solutions for the energy and food/beverage industries. Key products include processing systems and components for the food and beverage industry, pumps, valves and filtration equipment used in oil and gas processing, power transformers used by utility companies, and cooling systems for power generation plants and HVAC applications. SPX was formed in 1912 and is based in Charlotte, North Carolina.


M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (1.2/yr) # 14 - 2 - 2 2 20
vol $5.5B $189M $5.6B
Sell (0.2/yr) # 22 - 1 - - - 23
vol $3.1B $3.1B
  43

Most Recent M&A

Company Date Value Type
Cincinnati Fan & Ventilator Co. Inc. 2021-11-15 - Add-on Acquisition
Mason, Ohio · www.cincinnatifan.com
Sealite Pty Ltd. 2021-04-19 - Add-on Acquisition
Somerville, Australia · www.sealite.com
Sensors & Software, Inc. 2020-11-12 - Add-on Acquisition
Mississauga, Ontario · www.sensoft.ca
ULC Robotics 2020-09-02 - Add-on Acquisition
Hauppauge, New York · www.ulcrobotics.com
SPX Heat Transfer LLC 2018-07-02 - Divestiture
Tulsa, Oklahoma · www.spxheattransfer.com
CUES, Inc. 2018-04-23 189M USD Add-on Acquisition
Orlando, Florida · www.cuesinc.com
Schonstedt Instrument Co. 2018-03-01 - Add-on Acquisition
Kearneysville, West Virginia · www.schonstedt.com
Balcke-Dürr GmbH 2016-11-23 - Divestiture
Dusseldorf, Germany · www.balcke-duerr.com
SPX Corp - Dry Cooling Business 2015-12-14 48M USD Divestiture
, Belgium
PCX Aerostructures LLC 2014-04-21 62M USD Divestiture
Newington, Connecticut · www.pcxaero.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Machinery 6 (30%) 99M (2%) 6 (26%) 48M (2%)
Manufacturing 5 (25%) 5.4B (95%) 7 (30%) 133M (4%)
Test/Measurement Equipment 3 (15%) - 1 (4%) 90M (3%)
Engineering 2 (10%) - 1 (4%) -
Automotive - - 3 (13%) 1.2B (37%)
Technology Hardware 1 (5%) 189M (3%) 1 (4%) 190M (6%)
Electronics 1 (5%) - - -
Information Technology 1 (5%) - - -
Software 1 (5%) - - -
Aerospace - - 1 (4%) 62M (2%)
Construction - - 1 (4%) -
Energy Services and Equipment - - 1 (4%) -
Safety/Security - - 1 (4%) 1.4B (45%)
Total 20 $5.6B 23 $3.1B

By Geo

State/Country Buy Value Sell Value
United States 11 4.5B 17 3.0B
  Illinois 2 64M 1 -
  Ohio 1 - 2 -
  Connecticut 1 2.3B 2 1.5B
  Pennsylvania 1 35M 1 43M
  Florida 1 189M 1 -
  Texas 1 - 1 -
  Minnesota - - 2 30M
  North Carolina 1 1.9B - -
  New York 1 - - -
  West Virginia 1 - - -
  Oklahoma - - 1 -
  New Jersey - - 1 190M
  Michigan - - 1 1.2B
  Kansas - - 1 -
  Indiana - - 1 -
  California - - 1 90M
Germany 1 - 3 -
United Kingdom 3 1.2B - -
Italy 1 - 1 28M
Australia 1 - - -
Belgium - - 1 48M
Canada 1 - - -
  Ontario 1 - - -
Denmark 1 - - -
New Zealand 1 - - -
Spain - - 1 -
Domestic 11 (55%) 4.5B (80%) 17 (74%) 3.0B (98%)
Cross-border 9 (45%) 1.2B (20%) 6 (26%) 76M (2%)
Total 20 $5.6B 23 $3.1B

Top M&A Advisors

Financial Deals
Lincoln International
7
BlackArch Partners LLC
1
PwC Corporate Finance LLC
1
Legal Deals
Holland & Knight LLP
1

Deal Values

buy # Total
> $1B 3 $5.4B
$100M to $1B 1 $189M
< $100M 2 $99M
TOTAL $5.6B
Largest General Signal Corp.
$2.3B (1998-07-21)
sell # Total
> $1B 2 $2.5B
$100M to $1B 1 $190M
< $100M 7 $333M
TOTAL $3.1B
Largest Edwards Systems Technology, Inc.
$1.4B (2004-11-15)

M&A Connections

Deals
Acquired from
Investor(s)
5%
1 (5%)
Strategic(s)
30%
6 (30%)
Divested to
Investor(s)
48%
11 (48%)
Strategic(s)
52%
12 (52%)

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