---
schema_version: "secwatch.filing_event.v1"
accession: "0000947871-22-001139"
form_type: "8-K"
ticker: "SPXC"
cik: "0000088205"
company_name: "SPX Technologies, Inc."
filed_at: "2022-11-07T23:59:59+00:00"
generated_at: "2026-06-22T06:16:12.501837+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# SPX Technologies divests asbestos-liability subsidiaries to Canvas Holdco for cash and annual EPS benefit

## Summary
- SPX contributed $138.85M in cash to subsidiaries; buyer Canvas contributed $8M capital.
- Transaction expected to yield annual adjusted EPS benefit of $0.08 to $0.10 beginning 2023.
- Estimated one-time loss recorded in Q4 2022, excluded from adjusted earnings per share.
- Buyer Canvas is a joint venture of Global Risk Capital LLC and an affiliate of Premia Holdings Ltd.
- Solvency opinions obtained from independent advisory firm for each target company post-sale.

## SEC filing metadata
- accession: 0000947871-22-001139
- form_type: 8-K
- ticker: SPXC
- cik: 0000088205
- company_name: SPX Technologies, Inc.
- filed_at: 2022-11-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/88205/000094787122001139/0000947871-22-001139-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/88205/000094787122001139/ss1485867_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000947871-22-001139
- JSON: https://secwatch.observer/filing/0000947871-22-001139.json
- Plain text: https://secwatch.observer/filing/0000947871-22-001139.txt

## Key facts
- M&A Transactions
  SPX Technologies, Inc. completed a disposition involving Canvas Holdco, LLC (closed 2022-11-01).
  - Action: disposition
  - Counterparty: Canvas Holdco, LLC
  - Closing: 2022-11-01
  source text: On November 1, 2022, the Company transferred to the Purchaser the issued and outstanding limited liability company membership interests of SPX, LLC (the “ Sale ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/88205/000094787122001139/0000947871-22-001139-index.htm
- Material Agreements
  SPX Technologies, Inc. entered into Purchase Agreement with Canvas Holdco, LLC (effective 2022-11-01).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Canvas Holdco, LLC
  - Effective: 2022-11-01
  source text: nto a Sale and Purchase Agreement (the “ Purchase Agreement ”) with Canvas Holdco, LLC, a Delaware limited liability company (the “ Purchaser ”), an entity formed by a joint venture of Global Risk Capital and Premia Holdings.
  evidence_url: https://www.sec.gov/Archives/edgar/data/88205/000094787122001139/0000947871-22-001139-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.