SPX Technologies Acquires Thermolec for CA$195 Million
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SPX Technologies has acquired Thermolec Ltd. for CA$195 million (approximately US$140 million). Thermolec, based in Montréal and founded in 1973, specializes in custom electric duct heating solutions for various applications. With nearly 200 employees and annual revenues of about US$35 million, Thermolec will join SPX’s HVAC segment, enhancing U.S. sales and leveraging Canadian customer relationships to boost Marley Engineered Products’ presence in Canada.
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