SPX Technologies completed the acquisition of Thermolec for CAD195m.

SPX Technologies, a diversified, global supplier of highly engineered products and technologies, completed the acquisition of Thermolec, a manufacturer of custom electric duct heating and related solutions, for CAD195m. “We are excited to welcome the Thermolec team to the SPX Technologies family. Thermolec is a natural extension of our Electric Heat strategy. Its custom electric heating solutions are highly complementary to our existing portfolio and strengthen the value we deliver to OEMs, distributors, and contractors across North America. By combining Thermolec’s exceptional service, quality, and strong Canadian presence with our established Electric Heat channels in the U.S., we are creating a more complete and capable platform for our customers,” Gene Lowe, SPX Technologies President and CEO.