SPX Technologies completed the acquisition of ASPEQ Heating Group from Industrial Growth Partners for $418m.

SPX Technologies, a supplier of highly engineered infrastructure equipment and technologies, completed the acquisition of ASPEQ Heating Group, an electrical heating solutions provider, from Industrial Growth Partners, a specialist private investment partnership, for $418m. "We are delighted to be joining SPX Technologies’ electrical heating team. Bringing together SPX Technologies’ marketing and channel infrastructure and business system with ASPEQ’s technology, and strong product development and application expertise creates numerous opportunities for employees, customers, and shareholders. I personally look forward to working with the SPX Technologies team to build an even stronger, more valuable platform," Dave Smith, ASPEQ President and CEO.