- SPX Corp SPXC has agreed to purchase Cincinnati Fan & Ventilator Co., Inc., from Dominus Capital L.P. for undisclosed financial terms.
- Mason, Ohio-based Cincinnati Fan & Ventilator manufactures engineered air moving solutions for OEM applications across a diverse range of industries. It has approximately 215 employees in the U.S. and the U.K.
- SPX expects the transaction to close by year-end 2021 and the acquisition to be accretive to its HVAC segment margin.
- SPX held cash and equivalents of $560.1 million as of September 2021.
- Price Action: SPXC shares are trading lower by 0.30% at $65.49 on the last check Monday.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.