SPX Announces Purchase of Patterson-Kelley from Harsco Corporation
SPX Technologies, Inc. (SPXC)
Last spx technologies, inc. earnings: 4/30 04:15 pm
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Source: GlobeNewswire
Highly Strategic Addition to HVAC Heating Platform Accelerates High-Efficiency Commercial Boiler Strategy Enhances New Product Development Capabilities CHARLOTTE, N.C., Nov. 13, 2019 (GLOBE NEWSWIRE) -- SPX Corporation (NYSE:SPXC) announced today that its subsidiary, The Marley Company, LLC, has acquired Patterson-Kelley from Harsco Corporation for cash consideration of approximately $60 million. Patterson-Kelley is a manufacturer and distributor of commercial boilers and water heaters headquartered in East Stroudsburg, PA. The results of the purchased business will be reported with SPX’s Heating platform within its HVAC segment. Gene Lowe, SPX Corporation’s President and CEO, commented, “We are excited to welcome the Patterson-Kelley team to SPX. Patterson-Kelley is an excellent fit with SPX’s HVAC Heating platform that strengthens and accelerates our strategy in high-efficiency commercial boilers, and further enhances our product development capabilities. We look forward t
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