{"id":2450,"date":"2025-07-22T18:28:32","date_gmt":"2025-07-22T18:28:32","guid":{"rendered":"https:\/\/www.dev-spx-corp-2025.pantheonsite.io\/?p=2450"},"modified":"2025-08-04T13:29:17","modified_gmt":"2025-08-04T13:29:17","slug":"spx-announces-agreement-to-purchase-cincinnati-fan-from-dominus-capital","status":"publish","type":"post","link":"https:\/\/spx.com\/fr\/spx-announces-agreement-to-purchase-cincinnati-fan-from-dominus-capital\/","title":{"rendered":"SPX Announces Agreement to Purchase Cincinnati Fan from Dominus Capital"},"content":{"rendered":"
Highly Strategic Acquisition Expands HVAC Cooling Platform into Attractive Engineered Air Movement Market; Closing Expected by Year End 2021<\/b><\/center><\/p>\n

CHARLOTTE, N.C.,\u00a0Nov. 15, 2021\u00a0(GLOBE NEWSWIRE) —\u00a0SPX Corporation\u00a0(NYSE:SPXC) announced today that it has entered into a definitive agreement to purchase\u00a0Cincinnati Fan & Ventilator Co., Inc.\u00a0(\u201cCincinnati Fan\u201d), a leader in engineered air movement solutions, including blowers and critical exhaust systems, from\u00a0Dominus Capital, L.P.\u00a0(\u201cDominus\u201d). Cincinnati Fan is headquartered in\u00a0Mason, Ohio\u00a0and has approximately 215 employees in the US and the\u00a0UK.<\/p>\n

\u201cWe are very excited about welcoming Cincinnati Fan to the SPX team,\u201d said\u00a0Gene Lowe, President and CEO of SPX. \u201cCincinnati Fan\u2019s well-known brand and attractive niche-engineered products are a strong fit with our global HVAC Cooling business, where we already share some common distribution in the US. We see multiple opportunities to create additional value, and accelerate our combined growth, by leveraging Cincinnati Fan\u2019s technical expertise in engineered air movement across our US and global cooling platforms.\u00a0\u00a0 This will be our 10th<\/sup>\u00a0acquisition since 2018. The transaction further validates our strategy of building high quality, market-leading platforms, and helps create a foundation for further growth in closely adjacent HVAC end markets.\u201d<\/p>\n

\u201cThe combination of Cincinnati Fan with SPX\u2019s Global Cooling business is an excellent fit,\u201d said\u00a0Paul Burton, President and CEO of Cincinnati Fan. \u201cBringing together our high-quality, engineered air movement solutions with SPX\u2019s global footprint and marketing infrastructure will provide numerous opportunities for both our employees and customers. I look forward to working with the SPX team to build an even stronger, more valuable platform.\u201d\u00a0Mr. Burton\u00a0will continue to lead Cincinnati Fan following the closing of the transaction.<\/p>\n

The transaction is expected to close by year end 2021 and is subject to regulatory approval and customary closing conditions. Other terms of the transaction are not being disclosed at this time. Once fully integrated, SPX anticipates that the acquisition will be accretive to its HVAC segment margin.<\/p>\n

SPX was represented by\u00a0BlackArch Partners, LLC\u00a0as financial adviser and\u00a0Holland & Knight LLP\u00a0as legal counsel.\u00a0\u00a0\u00a0William Blair\u00a0served as financial advisor, and\u00a0White & Case LLP\u00a0served as legal counsel for Cincinnati Fan.<\/p>\n

About\u00a0SPX Corporation:<\/strong>\u00a0\u00a0SPX Corporation\u00a0is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in\u00a0Charlotte, North Carolina,\u00a0SPX Corporation\u00a0has more than 4,000 employees in 15 countries.\u00a0SPX Corporation\u00a0is listed on the\u00a0New York Stock Exchange\u00a0under the ticker symbol \u201cSPXC.\u201d For more information, please visit\u00a0www.spx.com<\/a><\/p>\n

About Cincinnati Fan:<\/strong>\u00a0Founded in 1956,\u00a0Cincinnati Fan and Ventilator\u00a0is a leading manufacturer of engineered air moving solutions for OEM applications across a diverse range of industries. The Company offers reliable, short lead-times on built-to-order industrial fans and blowers, which can be customized to meet end-users’ specifications. Primary products include centrifugal fans and blowers, axial fans, portable fume exhausters, critical exhausts systems, high temperature fans and other highly-engineered solutions. The company is headquartered in\u00a0Mason, Ohio, and has locations in the US and the\u00a0United Kingdom. For more information please visit\u00a0www.cincinnatifan.com<\/a><\/p>\n

About\u00a0Dominus Capital:<\/strong>\u00a0Based in\u00a0New York,\u00a0Dominus Capital\u00a0is a leading middle-market private equity investment firm that focuses on management-led buyouts and growth capital investments in companies in the business services, light manufacturing and consumer sectors. Drawing on the experience, knowledge and network of its founders and a team of in-house operating executives,\u00a0Dominus Capital\u00a0works hand-in-hand with exceptional management teams to unlock the untapped potential of its portfolio companies. The firm takes a long-term approach to investing and has a consistent and highly successful track record of achieving significant growth at its portfolio companies.<\/p>\n

Forward-looking Statements<\/strong>:
\nCertain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please read these results in conjunction with the company\u2019s documents filed with the\u00a0Securities and Exchange Commission, including the company\u2019s most recent annual report on Form 10-K. 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 following: the impact of the COVID-19 pandemic and governmental and other actions taken in response; the uncertainty of claims resolution with respect to the large power projects in\u00a0South Africa, as well as claims with respect to asbestos, environmental and other contingent liabilities; cyclical changes and specific industry events in the company\u2019s markets; changes in anticipated capital investment and maintenance expenditures by customers; availability, limitations or cost increases of raw materials and\/or commodities that cannot be recovered in product pricing; the impact of competition on profit margins and the company\u2019s ability to maintain or increase market share; inadequate performance by third-party suppliers and subcontractors for outsourced products, components and services and other supply-chain risks; cyber-security risks; risks with respect to the protection of intellectual property, including with respect to the company\u2019s digitalization initiatives; the impact of overruns, inflation and the incurrence of delays with respect to long-term fixed-price contracts; defects or errors in current or planned products; domestic economic, political, legal, accounting and business developments adversely affecting the company\u2019s business, including regulatory changes; changes in worldwide economic conditions; uncertainties with respect to the company\u2019s ability to identify acceptable acquisition targets; uncertainties surrounding timing and successful completion of any announced acquisition or disposition transactions, including with respect to integrating acquisitions and achieving cost savings or other benefits from acquisitions; the impact of retained liabilities of disposed businesses; potential labor disputes; and extreme weather conditions and natural and other disasters.\u00a0\u00a0 In addition, statements with respect to the acquisition of Cincinnati Fan, including the anticipated timing of and impact from the completion of the acquisition, are subject to risks and uncertainties including, among others, the possibility that necessary regulatory approvals may not be obtained or that other conditions to closing such transaction may not be satisfied such that the transaction will not close or that the closing may be delayed; the possibility of unexpected costs, liabilities or delays in connection with such transaction; risks that such transaction disrupts current plans and operations of SPX; the ability to recognize the anticipated benefits of such transaction; the amount of the costs, fees, expenses and charges related to the transaction; the outcome of any legal proceedings that may arise with respect to such transaction; and the occurrence of any event, change or other circumstances that could give rise to the termination of the agreement for the acquisition of Cincinnati Fan.<\/p>\n

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 the company 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.<\/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.
\nSOURCE\u00a0SPX Corporation.<\/p>\n

Investor and Media Contacts:<\/strong>
\nMark A. Carano, vice-pr\u00e9sident, directeur financier et tr\u00e9sorier
\nPhone:\u00a0 980-474-3806
\nE-mail:\u00a0spx.investor@spx.com<\/a><\/p>\n

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

 <\/p>\n


\n\"Primary<\/a><\/p>\n

Source: SPX Corporation<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Highly Strategic Acquisition Expands HVAC Cooling Platform into Attractive Engineered Air Movement Market; Closing Expected by Year End 2021 CHARLOTTE, N.C.,\u00a0Nov. 15, 2021\u00a0(GLOBE NEWSWIRE) —\u00a0SPX Corporation\u00a0(NYSE:SPXC) announced today that it has entered into a definitive agreement to purchase\u00a0Cincinnati Fan & Ventilator Co., Inc.\u00a0(\u201cCincinnati Fan\u201d), a leader in engineered air movement solutions, including blowers and critical […]<\/p>","protected":false},"author":6,"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-2450","post","type-post","status-publish","format-standard","hentry","category-general"],"acf":[],"yoast_head":"\nSPX Announces Agreement to Purchase Cincinnati Fan from Dominus Capital - SPX Technologies in Charlotte, NC<\/title>\n<meta name=\"description\" content=\""SPX Technologies announces a definitive agreement to acquire Cincinnati Fan from Dominus Capital, enhancing its capabilities in engineered air movement solutions. 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