SPX Technologies Announces Acquisition of Sigma & Omega

Core Viewpoint - SPX Technologies, Inc. has completed the acquisition of Sigma Heating and Cooling and Omega Heat Pump for approximately $144 million (CAD 200 million), aligning with its typical acquisition multiple of 8x-12x Adjusted EBITDA [1][3]. Company Overview - Sigma & Omega, founded in 1997, is a Toronto-based manufacturer specializing in hydronic heating and cooling equipment, with expected annual revenues of approximately $65 million in 2025 and a workforce of around 220 employees [2][3]. Strategic Integration - Sigma & Omega will be integrated into SPX's hydronics business, enhancing its HVAC segment alongside Weil-McLain and Patterson-Kelley. The majority of Sigma & Omega's sales are from Canadian customers, but SPX aims to expand its U.S. customer base through increased domestic production [3][4]. Synergies and Growth Potential - The acquisition is expected to create significant synergies with SPX's existing HVAC businesses, leveraging Sigma & Omega's differentiated product offerings, such as vertical stack water-sourced heat pumps and fan coils, to enhance customer value and production efficiency [4][5]. Future Guidance - SPX Technologies plans to update its full-year 2025 guidance to reflect the impact of Sigma & Omega on May 1, 2025, coinciding with the Q1 2025 results announcement [3].