# 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.

- Type: Acquisition
- Announced: 2021-06-09
- Where: Charlotte, N.C., United States
- Value: $645.0M
- Status: announced
- Products: transformers
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [SPX Corporation](https://endata.com/companies/3760.md)
- [General Electric](https://endata.com/companies/1262.md) (partner)
- [SPX Corporation](https://endata.com/companies/3760.md) (target)
- [Xignux](https://endata.com/companies/11492.md) (partner)
- [GE-Prolec Transformers](https://endata.com/companies/55719.md) (acquirer)
- [SPX Transformer Solutions](https://endata.com/companies/55720.md) (target)

## Sources

- [globenewswire.com](https://www.globenewswire.com/news-release/2021/06/09/2244175/0/en/spx-announces-agreement-to-sell-spx-transformer-solutions-to-ge-prolec-transformers.html), 2021-06-09: "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."
- [klgates.com](https://www.klgates.com/KL-Gates-Advises-SPX-Corporation-on-Agreement-to-Sell-SPX-Transformer-Solutions-to-GE-Prolec-Transformers-6-11-2021), 2021-06-11: "K&L Gates LLP has advised SPX Corporation on its binding agreement to sell 100% of the issued and outstanding stock of its wholly-owned subsidiary SPX Transformer Solutions, Inc., to GE-Prolec Transformers, Inc."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.