SPX Technologies Acquires Toronto-Based Sigma & Omega for $144M

SPX Technologies has finalized its acquisition of Sigma Heating and Cooling and Omega Heat Pump, collectively known as Sigma & Omega, for a purchase price of approximately $144 million CAD. Founded in 1997 and based in Toronto, Sigma & Omega specializes in engineered hydronic heating and cooling equipment and has an annual revenue of approximately $65 million, with a strong customer base in Canada. This acquisition is expected to enhance SPX’s hydronics business and expand their HVAC segment by leveraging Sigma & Omega's product offerings, such as vertical stack heat pumps and fan coils, into the U.S. market. SPX plans to update its 2025 financial guidance with the inclusion of Sigma & Omega's impact in its Q1 results announcement. SPX Technologies' CEO Gene Lowe emphasized the synergy and potential in combining their portfolio with Sigma & Omega's solutions, marking a step towards strategic growth in key markets such as high-rise residential and commercial properties across North America.