2023-04-03 16:54:49 ET
SPX Technologies ( NYSE: SPXC ) said Monday it acquired privately held TAMCO for C$170M (~US$125M) in cash, expanding its position in engineered air movement.
SPX ( SPXC ) said TAMCO is a market leader in motorized and non-motorized dampers that control airflow in large-scale specialty applications in commercial, industrial and institutional markets.
TAMCO, with operations in Canada and the U.S., has annual revenue of more than US$50M, and its margins and anticipated revenue growth rate are higher than the HVAC segment average, SPX ( SPXC ) said.
SPX Technologies ( SPXC ) recently reported better than expected Q4 adjusted earnings of $1.17/share on revenues of $429M .
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SPX Technologies buys Tamco in C$170M deal