SPX acquires SGS Refrigeration
9th July 2019
USA: SPX Corporation has completed the acquisition of Illinois-based SGS Refrigeration Inc, a manufacturer and distributor of industrial refrigeration products in the North American market.
Gene Lowe, president and CEO of SPX Corporation, the manufacturer of Marley and Recold cooling towers, said: “As a leader in industrial refrigeration, SGS has operated as a close partner with SPX in the evaporative condenser market. I am very pleased with the progress this partnership has made and look forward to the next phase of our growth together, as we combine our resources to further expand our addressable market and product suite of industrial refrigeration solutions.”
SGS’s 2018 annual revenues were approximately $15m, including approximately $3.5m of inter-company sales with SPX. The company’s results will be reported as a part of SPX’s HVAC Cooling business unit within its HVAC segment.
Established in 2010, SGS Refrigeration manufactures and supplies industrial evaporators and evaporative condensers. The company has been involved in a partnership with SPX since 2015 to produce the Cube line of forced draft and induced draft evaporative condenser.
