M&A Deal Summary

Mestek Acquires KING

On January 1, 2002, Mestek acquired machinery company KING from SPX Technologies

Acquisition Highlights
  • This is Mestek’s 2nd transaction in the Machinery sector.
  • This is Mestek’s 2nd transaction in the United States.
  • This is Mestek’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2002-01-01
Target KING
Sector Machinery
Buyer(s) Mestek
Sellers(s) SPX Technologies
Deal Type Divestiture

Target

KING

Owatonna, Minnesota, United States
KING is a world in the production of specialized air handling and conditioning equipment serving critical process industries (primarily food processing) and other diverse industrial end-markets.

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Buyer(S) 1

Buyer

Mestek

Westfield, Massachusetts, United States
Category Company
Founded 1898
Sector Manufacturing
Revenue 329M USD (2017)
DESCRIPTION

Mestek is a diversified manufacturer of heating, ventilation and air-conditioning equipment, metal hose and hose products, aluminum extrusions, sheet metal processing machinery and business software solutions. Mestek was founded in 1898 and is based in Westfield, Massachusetts.

DEAL STATS #
Overall 2 of 2
Sector (Machinery) 2 of 2
Type (Divestiture) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 2 of 2
Year (2002) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-06-01 Met-Coil Systems

Cedar Rapids, Iowa, United States

Met-Coil manufactures advanced sheet metal forming equipment, fabricating machinery and automated fabrication systems for the global market.

Buy -

Seller(S) 1

SELLER

SPX Technologies

Charlotte, North Carolina, United States
Category Company
Founded 1912
Sector Machinery
Employees4,100
Revenue 1.7B USD (2023)
DESCRIPTION
Entrance to SPX's corporate headquarters in Charlotte, North Carolina.
Entrance to SPX's corporate headquarters in Charlotte, North Carolina.

SPX Technologies 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 Technologies was founded in 1912 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 3 of 23
Sector (Machinery) 1 of 6
Type (Divestiture) 3 of 23
State (Minnesota) 1 of 2
Country (United States) 2 of 17
Year (2002) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-01-01 STOW/BOMAG

Germany

STOW manufactures light construction equipment including concrete mixers, mortar mixers, vibrators, trowels, saws and other equipment primarily for the masonry industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-01 Daniel Valve

Houston, Texas, United States

Daniel Valve manufactures, markets, and services specialty valves and flow control solutions for crude oil and liquid petroleum product pipeline transmission, storage and distribution applications.

Buy -
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