SPX Technologies Acquires Water Management Firm FIS Water For $410 Mln

(RTTNews) - SPX Technologies Inc. (SPXC), a provider of engineered products and technologies, announced that it has completed the acquisition of FIS Water, LLC for approximately $410 million in cash, including certain tax attributes. FIS Water, formed in 2018 and based in California, operates a portfolio of brands delivering engineered water management and control solutions for commercial and industrial cooling applications. The company employs around 120 people and is projected to generate revenue of approximately $105 million in 2026. Following the acquisition, FIS Water has been integrated into SPX Technologies' HVAC segment and now operates within the Cooling platform.