Here's What Acquisition of Crawford United Means For SPX Technologies (SPXC)

SPX Technologies, Inc. (NYSE:SPXC) is one of the 10 Data Center Cooling Companies to Invest In. On December 8, the company announced that it had entered into a definitive agreement to acquire Crawford United Corporation (OTC:CRAWA), a Cleveland-based holding company. The deal is valued at approximately $300 million. This acquisition is part of SPX Technologies’ expansion plans. As per the agreement, Crawford United will be merged with a subsidiary of SPX. With this acquisition, SPXC will expand its HVAC capabilities by incorporating the Commercial Air-Handling Equipment segment of Crawford United. This segment contains Rahn Industries and Air Enterprises.

Over the past 12 months ending September 30, 2025, this segment reported $22.8 million in operating profit and $81.6 million in sales. SPX Technologies (NYSE:SPXC) also reported total revenue of $2.16 billion over the last 12 months, with solid revenue growth of 12.6%.

After the deal closes, SPXC will merge Crawford United’s Commercial Air-Handling Equipment segment with its HVAC segment. Meanwhile, the company intends to divest the Industrial & Transportation Products segment of Crawford United. The reason for its divestiture is that this segment does not align with the firm’s long-term strategy.

Gene Lowe, SPX Technologies President & CEO, highlighted the potential of this acquisition by mentioning:

“Their commercial air-handling business is an excellent fit for our HVAC platform, strengthening our ability to deliver end-to-end solutions to customers in healthcare, universities, pharmaceutical, advanced manufacturing, and commercial markets.”

SPX Technologies, Inc. operates as a supplier of infrastructure equipment to global markets. It mainly serves the cooling (HVAC), heating, ventilation, and detection & measurement markets. The company operates through HVAC and Detection and Measurement segments. It sells its products through retailers, third-party distributors, and independent manufacturing representatives.

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Disclosure: None. This article is originally published at Insider Monkey.