SPX Technologies (NYSE: SPXC) announced the appointment of Brian Deck as a new independent member of its Board of Directors, effective July 27, 2026. The Charlotte-based industrial technology supplier added Deck to strengthen its governance structure and leverage his executive experience in managing organic and inorganic growth. In addition to his board seat, Deck has been assigned to the Audit Committee and the Governance & Sustainability Committee.

Gene Lowe, President and Chief Executive Officer of SPX Technologies, highlighted Deck’s track record in overseeing acquisitions and implementing performance-enhancing processes. Lowe noted that Deck’s perspective as a sitting CEO of a public company would be valuable to the board. The appointment aligns with SPX’s long-term strategy to integrate leadership expertise that supports continued operational success.

Executive Profile

Brian Deck currently serves as the Chief Executive Officer of JBT Marel Corporation (NYSE: JBTM), which provides technology solutions to the food and beverage industry. His prior executive roles include Chief Financial Officer at National Material. Before joining National Material, Deck held various financial leadership positions at Ryerson, General Electric, and Bank One Corporation.

Company Overview

SPX Technologies is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in Charlotte, North Carolina, the company employs approximately 5,300 people across 16 countries. SPX Technologies is listed on the New York Stock Exchange under the ticker symbol SPXC.

SPX Technologies has completed the acquisition of Neptronic for a total cash consideration of CA$ 605 million, subject to customary closing adjustments. The transaction expands SPX’s position in precision thermal management solutions and strengthens its portfolio with differentiated controls, electric duct heaters, actuators, actuated valves, and humidifiers. Neptronic will become part of SPX’s HVAC segment, leveraging its technology platform to deliver intelligent, controls-enabled HVAC solutions globally.

Neptronic designs and manufactures highly engineered HVAC solutions, including intelligent controls, electric duct heaters, humidifiers, actuators, and valves. Based in Montreal, Canada, Neptronic serves customers through a network of OEMs and channel partners, focusing on mission-critical applications such as data centers, healthcare, and education. The company employs approximately 300 people and generates annual revenues of about US$ 75 million.

The implied EBITDA multiple for the transaction is modestly above the upper-end of SPX’s recently transacted range of 8-12x. SPX intends to accelerate Neptronic’s growth by expanding channel access and customer reach while preserving its innovation-led culture. The acquisition aligns with SPX’s strategy to enhance its HVAC portfolio with high-quality brands and products.

Gene Lowe, President and CEO of SPX Technologies, highlighted the strategic fit, noting that Neptronic’s solutions complement SPX’s existing portfolio and advance its HVAC growth strategy. Biagio Di Lorenzo, CFO and President of Neptronic, emphasized the opportunity to leverage SPX’s scale and operational resources to accelerate growth while maintaining Neptronic’s engineering expertise and customer focus.

SPX management plans to provide updated 2026 guidance, incorporating the impact of Neptronic, on July 30, 2026, when the company reports its Q2 2026 results. The acquisition is expected to enable more intelligent, fully integrated HVAC solutions across SPX’s broader portfolio.

Key Transaction Details

Strategic Benefits

• Expansion of SPX’s HVAC segment with precision thermal management solutions.
• Addition of differentiated controls, electric duct heaters, actuators, and humidifiers.
• Enhanced capabilities as an integrated controls-enabled systems provider.
• Accelerated growth for Neptronic through expanded channel access and operational resources.