SPX Technologies to Acquire Crawford United for $300 Million

SPX Technologies has announced an agreement to acquire Crawford United in a transaction valued at approximately $300 million. The deal is expected to close in the first quarter of 2026 and will expand SPX's HVAC portfolio with Crawford's commercial air-handling equipment segment.

“The agreement provides for Crawford United to merge with a subsidiary of SPX, with holders of Class A and Class B common stock of Crawford United to receive, after adjustments for satisfaction of indebtedness and payment of expenses, estimated cash consideration of approximately $83.42 per share, representing an aggregate transaction value of $300 million.”

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