{"id":1717,"date":"2025-07-22T18:29:34","date_gmt":"2025-07-22T18:29:34","guid":{"rendered":"https:\/\/live-spx-corp.pantheonsite.io\/?p=1717"},"modified":"2025-08-04T12:50:00","modified_gmt":"2025-08-04T12:50:00","slug":"spx-announces-agreement-to-purchase-marine-and-obstruction-lighting-business-of-carmanah-technology-corporation","status":"publish","type":"post","link":"https:\/\/spx.com\/fr\/spx-announces-agreement-to-purchase-marine-and-obstruction-lighting-business-of-carmanah-technology-corporation\/","title":{"rendered":"SPX Announces Agreement to Purchase Marine and Obstruction Lighting Business of Carmanah Technology Corporation"},"content":{"rendered":"

Transaction Expected to Close During Q1 2019;
\nExpands and Strengthens SPX\u2019s Position in Engineered Lighting Solutions;
\nAnticipated to be Modestly Accretive to 2019 Adjusted EPS<\/p>\n

CHARLOTTE, N.C.,\u00a0Dec. 12, 2018\u00a0(GLOBE NEWSWIRE) —\u00a0SPX Corporation\u00a0(\u201cSPX\u201d) (NYSE: SPXC) today announced that it has entered into a definitive agreement to purchase the marine and obstruction lighting business of\u00a0Carmanah Technologies Corporation\u00a0(\u201cCarmanah\u201d) for cash consideration of approximately\u00a0$77 million.\u00a0 Following completion of the transaction, the results of the purchased business will be reported with SPX\u2019s Communication Technologies businesses within its Detection & Measurement segment.<\/p>\n

Under the agreement, SPX will purchase the stock of Carmanah\u2019s Sabik subsidiaries (located in\u00a0Europe\u00a0and\u00a0Singapore) as well as certain operating and intellectual property assets of Carmanah\u2019s businesses in\u00a0Canada\u00a0and the United States.\u00a0 The transaction is expected to close during Q1 2019 and is contingent upon obtaining approval of Carmanah\u2019s shareholders, as well as other customary closing conditions.<\/p>\n

\u201cWe are excited to welcome Sabik to the SPX team,\u201d said\u00a0Gene Lowe, President and CEO of SPX. \u201cThis transaction expands and further strengthens SPX\u2019s position in aids-to-navigation specialty lighting solutions by adding highly-engineered technology and products for the marine and obstruction lighting markets. We believe the combination of these industry-leading applications with SPX\u2019s portfolio of communication technologies solutions is a strong strategic fit that will provide significant value creation for our shareholders.\u201d<\/p>\n

John Simmons, Chief Executive Officer of\u00a0Carmanah, commented \u201cWe are very pleased with this transaction, which creates numerous opportunities for employees and customers alike. Combining Carmanah\u2019s high-quality lighting products with SPX\u2019s extensive infrastructure and broad distribution network is a great opportunity to further advance product development and extend the reach of these solutions to a broader customer base.\u201d<\/p>\n

The acquired business has current annual revenue of approximately\u00a0$27 million\u00a0and a similar margin profile to SPX\u2019s Detection & Measurement segment.\u00a0 The acquisition is expected to be modestly accretive to SPX\u2019s 2019 Adjusted EPS, after taking into account a partial year of results and costs to finance the acquisition.\u00a0 SPX plans to provide detailed guidance for 2019 on its call to discuss Q4 2018 results in mid-February 2019.\u00a0 SPX anticipates excluding the effect of one-time costs, purchase accounting items and amortization associated with acquisitions when reporting adjusted results.<\/p>\n

About\u00a0SPX Corporation:\u00a0<\/strong>SPX Corporation\u00a0is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC, detection and measurement, and engineered solutions markets. Based in\u00a0Charlotte, North Carolina,\u00a0SPX Corporation\u00a0had approximately\u00a0$1.4 billion\u00a0in annual revenue in 2017 and more than 5,000 employees in about 14 countries.\u00a0SPX Corporation\u00a0is listed on the\u00a0New York Stock Exchange\u00a0under the ticker symbol \u201cSPXC.\u201d\u00a0 For more information, please visit\u00a0www.spx.com<\/a>.<\/p>\n

About\u00a0Carmanah Technology Corporation:\u00a0<\/strong>Carmanah\u00a0designs, develops and distributes a portfolio of products focused on energy optimized LED solutions for infrastructure. Since 1996, the company has earned a global reputation for delivering durable, dependable, efficient and cost-effective solutions for industrial applications that perform in some of the world\u2019s harshest environments. For more information, please visit\u00a0www.carmanah.com<\/a>.<\/p>\n

Certain statements in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please read these statements in conjunction with the SPX\u2019s documents filed with the\u00a0Securities and Exchange Commission, including the SPX\u2019s annual reports on Form 10-K, and any amendments thereto, and quarterly reports on Form 10-Q. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements, including the risk that SPX may fail to successfully complete or integrate acquisitions. Actual results may differ materially from these statements. The words \u201cbelieve,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cproject\u201d and similar expressions identify forward-looking statements. Although SPX believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. In addition, estimates of future operating results are based on SPX\u2019s current complement of businesses, which is subject to change.<\/p>\n

Statements in this press release speak only as of the date of this press release, and SPX disclaims any responsibility to update or revise such statements.<\/p>\n

SOURCE\u00a0SPX Corporation.<\/p>\n

Investor and Media Contacts:<\/strong>
\nMark A. Carano, vice-pr\u00e9sident, directeur financier et tr\u00e9sorier
\nE-mail:\u00a0spx.investor@spx.com<\/a><\/p>\n

Pat Uotila, Manager, Investor Relations
\nPhone:\u00a0 980-474-3806
\nE-mail:\u00a0spx.investor@spx.com<\/a><\/p>\n

\"SPX_LOGO_Horizontal_RGB<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Transaction Expected to Close During Q1 2019; Expands and Strengthens SPX\u2019s Position in Engineered Lighting Solutions; Anticipated to be Modestly Accretive to 2019 Adjusted EPS CHARLOTTE, N.C.,\u00a0Dec. 12, 2018\u00a0(GLOBE NEWSWIRE) —\u00a0SPX Corporation\u00a0(\u201cSPX\u201d) (NYSE: SPXC) today announced that it has entered into a definitive agreement to purchase the marine and obstruction lighting business of\u00a0Carmanah Technologies Corporation\u00a0(\u201cCarmanah\u201d) […]<\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[26],"tags":[],"dipi_cpt_category":[],"class_list":["post-1717","post","type-post","status-publish","format-standard","hentry","category-general"],"acf":[],"yoast_head":"\nSPX Announces Agreement to Purchase Marine and Obstruction Lighting Business of Carmanah Technology Corporation - 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