Watch for Q3 2026 earnings release for updated guidance incorporating FIS Water. The acquisition strengthens SPX's HVAC segment and data center exposure; monitor integration progress and margin contribution in subsequent quarters.
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Executive Summary
SPX Technologies completed the acquisition of FIS Water for approximately $410 million in cash. FIS Water's highly engineered water management products are complementary to SPX's existing Cooling platform, with expected 2026 revenue of ~$105 million. The deal expands SPX's HVAC capabilities and provides cross-selling opportunities through global channels.
Key Financial Metrics
Key Facts
- Acquisition of FIS Water for ~$410 million in cash
- FIS Water expected to generate ~$105 million in 2026 revenue
- FIS Water has ~120 employees and operates under LAKOS, Puroflux, Superior, VAF, and VSI brands
- Products are complementary to SPX's cooling-tower offerings with significant customer and channel overlap
- FIS Water will operate within SPX's HVAC segment's Cooling platform
- Valve and actuator portfolio complements recently acquired Neptronic business
- SPX management will provide updated 2026 guidance in Q3 2026 earnings report
Financial Impact
Acquisition price of ~$410 million cash; target revenue ~$105 million in 2026, implying ~4x revenue multiple
Risk Factors
- Integration risk: potential disruption to operations or customer relationships
- Execution risk: ability to realize cross-selling synergies and accelerate growth
- Financial risk: cash outlay may increase leverage or reduce liquidity
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3362650 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 5w ago | Press Release | $178.68 $168.23 | ▼ −5.85% | ▼ −7.91% | $161.79 (−9.45%) |
Jul 27, 2026 13w ago | 8-K | $219.16 $200.90 | ▼ −8.33% | ▼ −11.63% | $161.79 (−26.18%) |
Jul 8, 2026 15w ago | Press Release | $216.63 $214.16 | ▼ −1.14% | ▼ −3.38% | $161.79 (−25.32%) |
Apr 8, 2026 28w ago | Press Release | $212.22 $207.81 | ▼ −2.08% | ▼ −10.62% | $161.79 (−23.76%) |
Feb 24, 2026 34w ago | 8-K | $226.66 $201.27 | ▼ −11.20% | ▼ −5.97% | $161.79 (−28.62%) |
US Market Status
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