Thermolec completed a sell-side sale process resulting in its acquisition by SPX Technologies, Inc., a US publicly traded company listed on the NYSE (SPXC), for $ 195 million.
This acquisition strengthens Thermolec’s ability to innovate, expand, and deliver high‑performance electric heating solutions across North America. With access to greater resources, deeper technical capabilities, and wider distribution channels, Thermolec is positioned to accelerate its growth. Its teams, partners, and customers will benefit from a more robust platform and new long‑term opportunities.
As part of this transition, Thermolec now joins SPX’s HVAC segment. The company will operate within the Electric Heat business, working alongside Marley Engineered Products (MEP) and ASPEQ.
SPX Technologies plans to broaden Thermolec’s presence in the United States. At the same time, Thermolec’s strong Canadian network will support the expansion of MEP products throughout Canada, reinforcing the group’s overall market reach.
A Fasken team led by Guillaume Synnott, Michaëlle Guilbault and Tatianna Turcotte advised Thermolec in this transaction.
Jurisdiction
- Québec
