Benzinga | Nov 15, 2021 03:24PM EST

SPX To Buy Cincinnati Fan From Dominus Capital For Undisclosed Sum

* SPX Corp (NYSE:SPXC) has agreed to purchase Cincinnati Fan & Ventilator Co., Inc., from Dominus Capital L.P. for undisclosed financial terms.

* Mason, Ohio-based Cincinnati Fan & Ventilator manufactures engineered air moving solutions for OEM applications across a diverse range of industries. It has approximately 215 employees in the U.S. and the U.K.

* SPX expects the transaction to close by year-end 2021 and the acquisition to be accretive to its HVAC segment margin.

* SPX held cash and equivalents of $560.1 million as of September 2021.

* Price Action: SPXC shares are trading lower by 0.30% at $65.49 on the last check Monday.