SPX Technologies acquires Ingénia Group for CAD 405M cash

SPX Technologies, Inc.

SPX Technologies subsidiary acquired all shares of Target Corporations (Ingénia Group) for approx CAD 405M in cash.
Acquisition closed Feb 7, 2024; subject to customary adjustments for working capital, debt, and transaction expenses.
CAD 2.46M of purchase price deposited into escrow for potential downward adjustments and indemnification.
Purchaser obtained representation and warranty insurance policy to limit indemnification obligations.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SPX Technologies, Inc. entered into Share Purchase Agreement with 15737338 Canada Inc., Giuseppe Racanelli Family Trust, Lise Daigle Family Trust valued at approximately $(Cdn.)405 million in cash (effective 2024-02-07).

Action: entry
Agreement: asset purchase
Counterparty: 15737338 Canada Inc., Giuseppe Racanelli Family Trust, Lise Daigle Family Trust
Value: approximately $(Cdn.)405 million in cash
Effective: 2024-02-07

Exact text from the filing

the Purchaser purchased from the Vendors all of the issued and outstanding shares of the Target Corporations (which are the ultimate parent entities of 382 and the Operating Companies and together with 382 and the Operating Companies are referred to as the “Ingénia Group”) for aggregate consideration of approximately $(Cdn.)405 million in cash

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SPX Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0000088205-24-000002

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