SPX Technologies Completes $410 Million Cash Buyout of FIS Water

SPX Technologies (NYSE: SPXC) announced on Sept. 15 that it completed the acquisition of FIS Water, LLC in an all-cash transaction valued at approximately $410 million, including certain tax attributes. The acquired business is projected to generate roughly $105 million in revenue during full-year 2026, according to a report from Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/spx-technologies-spxc-buys-fis-184511019.html).

FIS Water's full-year top-line forecast places the cash purchase price at approximately 3.9 times expected annual revenue. Its actual contribution to SPX's consolidated 2026 revenue will be determined by the post-closing ownership window.

FIS Water manufactures filtration and flow-control hardware designed to remove solids, maintain water quality, and regulate fluid movement across commercial and industrial cooling systems, including data centers. SPX has integrated the business into its HVAC segment within its Cooling operations unit. The line complements SPX's cooling-tower systems and pairs with valves and actuators from its recently acquired Neptronic controls business.

Management plans to leverage global distribution networks and original equipment manufacturer relationships to cross-sell FIS Water products into cooling installations. The acquisition announcement did not disclose operating profit targets, quantified synergies, or the specific standalone value of the tax attributes included in the purchase price.

SPX also did not quantify the acquired unit's direct revenue exposure to data centers relative to other industrial markets. The company plans to release updated full-year 2026 financial guidance reflecting the transaction when it reports third-quarter financial results.