SPX to sell SPX Transformer Solutions to GE-Prolec Transformers for $645M

SPX Corporation entered into a binding agreement to sell its wholly-owned subsidiary SPX Transformer Solutions to GE-Prolec Transformers for $645 million in cash. The transaction is expected to close in the second half of 2021.

“This transaction is a significant step in SPX’s value creation journey that further focuses our strategy on growth in our HVAC and Detection & Measurement segments.”globenewswire.com

• 2 sources
• globenewswire.comSPX Announces Agreement to Sell SPX Transformer SolutionsSPX CorporationJun 9, 2021
• klgates.comK&L Gates Advises SPX Corporation on Agreement to Sell SPX Transformer Solutions to GE-Prolec Transformers | News & Events | K&L GatesJun 11, 2021

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