SPX Technologies Acquires FIS Water for $410M to Bolster Cooling Portfolio — SPX Technologies, Inc.

Event summary

SPX Technologies completed the acquisition of FIS Water for $410M in cash on September 15, 2026.
FIS Water, formed in 2018, generates approximately $105M in annual revenue and employs 120 people.
The acquisition adds water management and control solutions to SPX’s HVAC segment, complementing its existing Cooling platform and recent Neptronic acquisition.
FIS Water’s brands (LAKOS, Puroflux, Superior, VAF, VSI) serve commercial and industrial cooling applications, including data centers.
SPX plans to integrate FIS Water’s products into its global channels and OEM relationships.

The big picture

SPX Technologies’ acquisition of FIS Water is a strategic move to consolidate its position in the HVAC and cooling systems market. The deal underscores the growing importance of water management solutions in industrial and commercial cooling applications, particularly in data centers. With a $410M price tag, the acquisition signals SPX’s commitment to expanding its product portfolio and leveraging cross-selling opportunities through its global distribution network.

What we're watching

Integration Challenges: How SPX will manage the operational and cultural integration of FIS Water’s 120 employees into its existing Cooling platform.
Revenue Synergies: Whether SPX can accelerate FIS Water’s growth through its global channels and OEM relationships.
Market Positioning: The pace at which SPX can leverage FIS Water’s complementary products to strengthen its position in the HVAC control solutions market.