SPX closes $410M FIS Water deal as shares hit 52-week low
What's the deal? SPX TechnologiesDealroom has a profile for this one. Try Dealroom → completed its $410 million acquisition of FIS WaterDealroom has a profile for this one. Try Dealroom → on September 15, 2026, folding the business into its HVAC segment and Cooling platform. FIS Water supplies water management and control products for commercial and industrial cooling systems, including data center applications.
What's the endgame? The deal deepens SPX's push into cooling. FIS Water's products overlap with existing cooling-tower customers and channels, while its valve and actuator portfolio complements NeptronicDealroom has a profile for this one. Try Dealroom →, which SPX acquired in July 2026.
Why now? Demand for cooling is climbing with data center buildouts. SPX now expects data center capacity of $1.1 billion, up from $750 million, and reported a 59% year-over-year jump in its HVAC backlog.
By the numbers: For the second quarter of 2026, SPX posted revenue of $679 million and adjusted earnings per share of $2.02, beating the $639.93 million and $1.85 estimates. It raised its full-year adjusted EPS outlook by $0.45 to a midpoint of $8.40.
What could go wrong? Despite the beat, SPXC hit a 52-week low on October 1, 2026, trading at $169.71 on the NYSE within a 52-week range of $166.17 to $251.08. Its market capitalisation stood at $8.5 billion.
The signal: SPX is building out its cooling platform through back-to-back acquisitions aimed at the data center boom. Its third-quarter report, due October 28, 2026, will be the first period to include FIS Water — and investors' first read on whether the deals pay off.
Read more: ad-hoc-news.de
