SPX Technologies Announces Retirement of J. Randall Data and Strategic Acquisitions
SPX Technologies, Inc. announced the retirement of J. Randall Data, President of Global Operations and Data Center Solutions, effective March 20, 2026. The company has expanded its operations through the acquisition of Thermolec Ltd. for approximately $140 million and a definitive agreement to acquire Crawford United Corporation for about $300 million, aimed at enhancing its HVAC capabilities. Additionally, SPX appointed Daniel Whitman as the new Vice President and General Counsel, while TD Cowen initiated coverage on the company with a Hold rating.
Theia Market Signal Identification - AI Assisted
SPX Technologies, Inc. (NYSE:SPXC) announced that J. Randall Data, President of Global Operations and Data Center Solutions, will retire effective March 20, 2026.
The company has also expanded its operations through acquisitions, completing the purchase of Montreal-based Thermolec Ltd. for approximately $140 million, which generates annual revenues of about $35 million. Additionally, SPX signed a definitive agreement to acquire Crawford United Corporation for approximately $300 million, aimed at enhancing its HVAC capabilities; Crawford reported sales of $81.6 million and an operating profit of $22.8 million last year.
SPX appointed Daniel Whitman as the new Vice President and General Counsel, who has experience from Parker Hannifin. TD Cowen initiated coverage on SPX with a Hold rating, highlighting favorable market positioning.
Comments