M&A
confidence high
sentiment positive
materiality 0.75
SPX completes sale of Transformer Solutions unit to Prolec GE for $645M
SPX Technologies, Inc.
- Sale price of $645 million includes assumed debt and is subject to working capital adjustment.
- Transaction closed on October 4, 2021; SPX expects to pay taxes on gain in 2022.
- Divestiture sharpens SPX's focus on its HVAC and Detection & Measurement segments.
- Prolec GE is a joint venture of GE and Xignux S.A. de C.V.