SPX Technologies has made another sizeable HVAC acquisition.
The Charlotte-based manufacturer announced September 15 that it completed the acquisition of FIS Water LLC for approximately $410 million in cash, including certain tax attributes.
FIS Water develops engineered water-management and control products used primarily in commercial and industrial cooling systems.
The Business Is Expected to Generate $105M
FIS Water employs approximately 120 people and is expected to generate around $105 million in 2026 revenue.
Its portfolio includes several established brands:
LAKOS.
Puroflux.
Superior.
VAF.
VSI.
Those businesses produce equipment designed to remove solids, control water flow and maintain water quality inside cooling systems.
It Fits Directly Into SPX’s HVAC Segment
FIS Water has been integrated into SPX Technologies’ HVAC segment and will operate within its Cooling platform.
That is important because this is not a diversification play outside HVAC.
SPX says FIS Water serves many of the same customers, engineering specifications and sales channels as its existing cooling-tower portfolio.
The company also highlighted the fit with Neptronic, another recent acquisition focused on HVAC controls.
Cooling Systems Need More Than Heat Rejection
Commercial cooling towers depend heavily on water quality.
Poor water management can contribute to:
Scale.
Corrosion.
Fouling.
Reduced heat-transfer efficiency.
Higher maintenance costs.
Shorter equipment life.
That means the controls and water-treatment equipment surrounding the tower can be strategically valuable even if it represents a smaller portion of the initial mechanical package.
SPX Is Building a Broader Cooling Platform
SPX has been steadily expanding its HVAC capabilities.
Its existing portfolio includes cooling towers, heating products, air movement and other engineered building systems.
FIS Water adds another layer around the cooling system rather than simply adding more capacity equipment.
That allows SPX to sell further into the same commercial and industrial projects.
Contractor Takeaway
This is a substantial HVAC transaction.
SPX is spending $410 million to own more of what happens around commercial cooling equipment — not just the tower itself, but the water quality, filtration and controls that help keep the system operating efficiently.
For manufacturers and distributors, it is another sign that HVAC consolidation is moving deeper into specialized components and controls, not just headline equipment brands.
