SPX Technologies completed the $410 million cash acquisition of FIS Water. The deal for the water management provider includes specific tax attributes. FIS Water expects to generate approximately $105 million in revenue by 2026.
The Fresno-based company operates brands including LAKOS and Puroflux. SPX will integrate these brands into its HVAC segment under the Cooling platform.
The acquisition expands SPX's cooling business through complementary products and shared sales channels. The deal specifically targets growth in data centers and industrial settings.