M&A Deal Summary

SPX Technologies Acquires ITL

On April 11, 2022, SPX Technologies acquired manufacturer ITL

Acquisition Highlights
  • This is SPX Technologies’ 6th transaction in the Manufacturing sector.
  • This is SPX Technologies’ 12th transaction in the United States.
  • This is SPX Technologies’ 1st transaction in Tennessee.

M&A Deal Summary
Date 2022-04-11
Target ITL
Sector Manufacturing
Buyer(s) SPX Technologies
Deal Type Add-on Acquisition

Target

ITL

La Vergne, Tennessee, United States
ITL is a manufacturer of highly-engineered Aids-to-Navigation, or “AtoN” systems, including obstruction lighting for telecommunications towers, wind turbines, and numerous other structures. ITL was founded in 1998 and is based in La Vergne, Tennessee.

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Buyer(S) 1

Buyer

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 21 of 24
Sector (Manufacturing) 6 of 7
Type (Add-on Acquisition) 15 of 18
State (Tennessee) 1 of 1
Country (United States) 12 of 13
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-15 Cincinnati Fan

Mason, Ohio, United States

Cincinnati Fan is a manufacturer of industrial fans and air moving solutions for OEM applications across a diverse range of industries. Cincinnati Fan offers reliable, short lead-times on built-to-order industrial fans and blowers, which can be customized to meet end-users' specifications. Primary products include centrifugal fans and blowers, axial fans, portable fume exhausters, and other highly-engineered solutions. Cincinnati Fan was formed in 1956 and is based in Mason, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-03 TAMCO

Smiths Falls, Ontario, Canada

TAMCO is a manufacturer of high-end, superior-quality dampers and air control products, serving commercial, industrial, and institutional markets. TAMCO is devoted to designing and developing products that are durable, maintenance-free, energy-efficient, and unparalleled in performance. TAMCO was founded in 1995 and is based in Smiths Falls, Ontario.

Buy $125M
Mergr

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