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SPX Technologies To Acquire Crawford United In $300M Deal

Benzinga·12/08/2025 13:04:29
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SPX Technologies, Inc. (NYSE:SPXC) ("SPX" or the "Company") and Crawford United Corporation (OTC:CRAWA) ("Crawford United") announced today that they have entered into a definitive agreement for SPX to acquire Crawford United, a Cleveland-based holding company with a broad portfolio of highly engineered air handling and industrial products.

The agreement provides for Crawford United to merge with a subsidiary of SPX, with holders of Class A and Class B common stock of Crawford United to receive, after adjustments for satisfaction of indebtedness and payment of expenses, estimated cash consideration of approximately $83.42 per share, representing an aggregate transaction value of $300 million.