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SPX Technologies Acquires Crawford United for HVAC Growth
14 Dec
Summary
- SPX Technologies agreed to acquire Crawford United for approximately $300 million.
- The acquisition aims to expand SPX's HVAC capabilities by integrating a key segment.
- Crawford United's Commercial Air-Handling Equipment segment reported $81.6 million in sales.
SPX Technologies announced a definitive agreement to acquire Cleveland-based Crawford United Corporation for roughly $300 million. This strategic acquisition is designed to bolster SPX Technologies' position in the data center cooling and HVAC markets. The integration of Crawford United's Commercial Air-Handling Equipment segment, which includes notable operations like Rahn Industries and Air Enterprises, is central to this expansion.
This business segment has demonstrated strong performance, reporting $22.8 million in operating profit and $81.6 million in sales within the past twelve months ending September 30, 2025. SPX Technologies itself posted total revenues of $2.16 billion during the same period, reflecting healthy growth of 12.6%. Following the acquisition's closure, this acquired segment will merge into SPX's HVAC division.
In conjunction with this acquisition, SPX Technologies plans to divest Crawford United's Industrial & Transportation Products segment, citing a lack of alignment with the company's long-term strategic objectives. SPX President & CEO Gene Lowe emphasized that the acquired business perfectly complements their existing HVAC platform, enhancing their capacity to serve critical sectors such as healthcare, universities, and advanced manufacturing.
