SPX Technologies Strategy and Business Model

Executive Overview

SPX Technologies is a Charlotte, North Carolina-based industrial technology company focused on two main areas: Heating, Ventilation, and Air Conditioning (HVAC) and Detection & Measurement. The company is no longer best understood as a broad industrial conglomerate. Over the past several years, management has sold lower-fit assets and used acquisitions to concentrate the portfolio in niches where product performance, technical specifications, and installed-base relationships can support stronger margins and steadier replacement demand. Its HVAC businesses sell products such as cooling towers, boilers, heating systems, and air-quality and air-movement equipment. Its Detection & Measurement businesses sell products including underground utility locators, sewer and pipe inspection systems, robotic inspection tools, communications systems, and aviation and marine lighting products. North America is the company’s center of gravity, with additional operations and sales in Europe, the United Kingdom, Australia, and other selected international markets. SPX traces its roots to 1912 and is headquartered in Charlotte. Based on FY2023, the latest full fiscal year available in company filings before mid-2024, SPX generated about $1.8 billion of revenue. The current strategy is focused portfolio building: organic growth, margin improvement, and bolt-on acquisitions in attractive industrial niches.

SPX Technologies at a Glance

Logo
Common name	SPX Technologies
Full legal name	SPX Technologies, Inc.
Headquarters	Charlotte, North Carolina, United States
Ownership	Public company; widely held institutional ownership; no controlling shareholder publicly identified in recent proxy materials
Ticker	SPXC
Exchange	NYSE - New York Stock Exchange
Market Cap	$11.88B
Revenue (FY2024)	#N/A
Founding / major historical milestones	1912 origins as Piston Ring Company; later became SPX Corporation; 2015 spin-off of SPX FLOW; portfolio reshaped through divestitures and acquisitions; renamed SPX Technologies in 2023
Industry or industries	Industrial technology; HVAC equipment; infrastructure detection and measurement
Key products or services	Cooling towers, boilers, heating systems, ventilation and air-quality equipment, underground utility locators, sewer and pipe inspection systems, robotic inspection tools, communications systems, aviation and marine lighting
Geographic footprint	Primarily North America, with additional operations and sales in Europe, the United Kingdom, Australia, and selected international markets
Business segments as officially reported	HVAC; Detection & Measurement
Company website	https://www.spx.com/

1. What Is the Strategy of SPX Technologies?

SPX Technologies’ public materials through early 2024 show a clear strategic direction: the company has been reshaped from a broader legacy industrial portfolio into a more focused industrial technology business centered on HVAC and infrastructure-oriented Detection & Measurement niches. Using the Playing to Win framework, the strategy can be summarized as follows.

1. 1a. What is the winning aspiration of SPX Technologies?

   SPX Technologies appears to define winning as building a higher-quality industrial portfolio with stronger growth, better margins, and stronger cash generation than the legacy company it has been exiting. In practical terms, management has emphasized concentration in markets with durable demand drivers such as building efficiency, electrification, infrastructure reliability, utility maintenance, and public safety. The aspiration is not to be the largest industrial company in every category; it is to own leading positions in selected niches where technical value, brand trust, and installed-base relationships matter.

2. 1b. Where does SPX Technologies play?

   SPX Technologies plays in two main competitive arenas. The first is HVAC, including cooling, heating, boilers, ventilation, air treatment, and adjacent thermal-management categories. The second is Detection & Measurement, including underground utility locating, sewer and pipe inspection, robotic inspection and maintenance, communications systems, and aviation or marine lighting and navigation products. Geographically, North America is the primary market, but the company also plays selectively in Europe and other international regions where it has acquired local platforms or exportable niche products. Importantly, SPX does not try to compete as a mass-market, low-cost industrial supplier; it focuses on specialized product categories where customers value performance and reliability.

3. 1c. How does SPX Technologies plan to win?

   SPX Technologies plans to win through niche leadership rather than breadth. Its businesses tend to sell products that are engineered, specified into projects, or embedded in field workflows. That supports differentiation through application knowledge, product performance, reliability, regulatory compliance, and service support. The company also uses bolt-on acquisitions to deepen product lines, add channels, and expand geographically. Inference from the portfolio moves is that SPX wants a mix of businesses with attractive replacement demand, pricing resilience, and the ability to improve margins through operating discipline.

4. 1d. What capabilities must SPX Technologies have in place?

   To execute this strategy, SPX needs strong application engineering, disciplined product management, brand and channel management, operational execution, and acquisition integration. In HVAC, it needs the ability to work with specifying engineers, contractors, distributors, and building owners. In Detection & Measurement, it needs product-development and field-support capabilities that fit utility, municipal, telecom, transportation, and public-safety customers. Across the company, it also needs the capability to identify attractive acquisition targets and integrate them without disrupting local brand strength.

5. 1e. What management systems does SPX Technologies require?

   SPX Technologies requires management systems that support decentralized execution with centralized capital allocation. That includes segment-level accountability, continuous-improvement disciplines in manufacturing and sourcing, disciplined pricing and margin management, and close attention to cash conversion and working capital. Because M&A is a recurring part of the playbook, the company also needs repeatable deal-screening and post-merger integration processes. In practice, the required system is one that measures growth, margin, and cash together rather than optimizing only for volume.

2. What Are the Current Strategic Initiatives of SPX Technologies?

Based on annual-report disclosures, investor presentations, and management commentary through early 2024, SPX Technologies’ current strategic initiatives are fairly specific.

• Deepening the HVAC platform. HVAC has become the company’s largest and most visible strategic focus. Management has emphasized product areas tied to commercial building efficiency, thermal management, air quality, and adjacent electrification themes. Recent HVAC transactions, including Ingénia and the 2024 ASPEQ transaction, point to a deliberate effort to broaden technology and geographic reach rather than rely only on legacy boiler and cooling-tower positions.

• Using bolt-on acquisitions as a core growth tool. SPX Technologies has publicly framed acquisitions as part of the business model, not as occasional events. The company has used acquisitions to add niche technologies, deepen channels, and enter attractive adjacencies. The portfolio actions of the last several years suggest a bias toward smaller, strategically coherent deals rather than large-scale conglomerate diversification.

• Driving margin expansion through mix, pricing, and operational execution. Management has stressed productivity, sourcing discipline, and price realization. That matters because SPX’s businesses are generally higher-value, engineered niches where disciplined pricing and better product mix can materially improve segment profitability.

• Growing Detection & Measurement around infrastructure reliability. The Detection & Measurement segment is positioned around utility locating, inspection, communications, and infrastructure-safety applications. Brands added over time, such as CUES, ULC Robotics, ECS, and Sealite, suggest that SPX wants to be aligned with infrastructure inspection, maintenance, and resilience budgets rather than only cyclical capital spending.

• Expanding internationally in selected niches. The company’s international push appears targeted rather than broad. Europe is especially important in HVAC, while several Detection & Measurement platforms have global export potential through utility, aviation, marine, and communications channels.

• Maintaining balance-sheet flexibility for continued portfolio shaping. SPX’s strategy depends on being able to keep investing in the portfolio. Strong cash generation and disciplined capital allocation support the ability to pursue additional acquisitions, fund capacity or product investments, and integrate acquired businesses without overstretching the balance sheet.

3. What Is the Business Model of SPX Technologies?

SPX Technologies is primarily an engineered-products company. Customers do not buy a subscription or a commoditized commodity input. They buy equipment, systems, devices, and related parts or services that solve specific operating problems in buildings and infrastructure.

• What customers actually buy. In HVAC, customers buy thermal-management and air-handling products such as cooling, heating, boiler, ventilation, and air-treatment equipment. In Detection & Measurement, customers buy locating tools, inspection systems, robotic tools, communications products, and specialized lighting and navigation equipment.

• Recurring or repeat-driven versus one-time revenue. SPX is not a software-style recurring-revenue company, but a meaningful share of demand appears repeat-driven. Replacement cycles, retrofit activity, consumables, parts, service, and installed-base relationships create recurring demand characteristics even though many transactions are still booked as product sales. Project-related equipment sales can be one-time, but the installed base often drives follow-on parts and replacement purchases.

• How pricing power works. Pricing power appears to come from niche market positions, trusted brands, regulatory or technical specifications, and the cost of failure for the end user. A utility crew, a contractor, or a facility owner is usually not buying the lowest-cost item in the abstract; they are buying a product that must work, meet standards, and fit an existing workflow or installed environment.

• Why the business mix matters. The mix between HVAC and Detection & Measurement matters because the segments have different demand drivers. HVAC benefits from commercial construction, replacement, indoor air quality, and building-efficiency trends. Detection & Measurement brings infrastructure, public-safety, utility, and field-operations exposure. Together, the mix can make SPX less dependent on a single cycle.

• What drives gross margin, operating margin, and cash generation. Gross margin is driven by product mix, pricing discipline, sourcing, manufacturing efficiency, and the degree of technical differentiation in each product category. Operating margin also depends on SG&A leverage, acquisition integration, and channel productivity. Cash generation benefits from moderate capital intensity relative to heavier industrial sectors, but working capital still matters because project timing, inventory, and acquisition integration can move cash conversion materially.

• Revenue model. The revenue model is mainly equipment and systems sales, supplemented by replacement parts, service, retrofit work, and repeat purchases tied to installed equipment. It is best described as a product-led industrial model with aftermarket features, not a subscription model.

4. What Products and/or Services Does SPX Technologies Sell?

SPX Technologies sells a portfolio of specialized products rather than one flagship product line. The mix is best understood by segment.

HVAC

The HVAC segment includes products used in commercial, industrial, and institutional thermal management. Core categories include cooling towers and related heat-rejection equipment, boilers and hydronic heating systems, ventilation and air-movement products, and air-treatment or air-quality solutions. Recent portfolio moves indicate a desire to expand into adjacencies linked to electrification and higher-value building systems.

Detection & Measurement

The Detection & Measurement segment includes underground utility locating equipment, sewer and pipe inspection systems, robotic inspection and maintenance tools, communications technologies, and aviation or marine lighting and navigation products. These businesses serve field-based workflows where reliability and precision are critical.

What appears most important

Based on segment reporting through FY2023 and early 2024 commentary, HVAC appears to be the larger segment and the main near-term growth engine. Detection & Measurement remains strategically important because it gives SPX exposure to infrastructure resilience, utility maintenance, and public-safety applications that are often less correlated with general building cycles.

Legacy versus newer growth offerings

Legacy strength sits in established HVAC brands and in mature detection products such as locating and inspection tools. Newer growth offerings appear to be centered on air treatment, electrification-related thermal products, robotic inspection, and international expansion platforms added through acquisitions.

5. What Are the Key Competitors or Peers of SPX Technologies?

No single company competes with SPX Technologies across its entire portfolio. Competition is segment-specific, and in some niches the closest comparison is a peer with a similar business model rather than a direct product rival.

In practice, SPX also faces many regional and category-specific competitors, especially in boilers, cooling, ventilation, and inspection equipment. In several of its niches, the relevant battleground is not a single global market-share contest but a local fight for specification, channel mindshare, and installed-base loyalty.

6. What Is the Marketing Strategy of SPX Technologies?

SPX Technologies’ marketing approach appears to be primarily technical and channel-oriented rather than consumer-facing. This is typical for an industrial company whose products are sold into commercial buildings, infrastructure, utilities, and municipal workflows.

In HVAC, marketing is likely centered on specification influence, engineer education, distributor and representative support, trade shows, technical literature, and brand credibility with contractors and building owners. The message is usually performance, reliability, efficiency, compliance, and total cost of ownership rather than lifestyle branding.

In Detection & Measurement, marketing appears even more field-driven. Product demonstrations, training, field trials, technical proof points, and support for tender or procurement processes are likely more important than broad awareness campaigns. Buyers in these markets often care about accuracy, uptime, ruggedness, and ease of use in real field conditions.

Brand marketing matters, but mostly as a trust signal inside a technical purchase process. Performance marketing in the consumer-digital sense does not appear to be a primary differentiator. Marketing is better understood as a supporting capability that reinforces channel effectiveness and product positioning.

7. What Are the Key Customer Segments of SPX Technologies?

SPX Technologies serves several distinct customer groups across its two segments.

• Commercial and institutional building markets. HVAC products are sold into office, education, healthcare, hospitality, industrial, and other commercial facilities that require heating, cooling, and air-handling systems.

• Industrial facilities. Certain thermal-management, ventilation, and engineered HVAC products serve industrial environments where uptime and application fit are important.

• Utilities and telecom operators. Detection & Measurement products support underground locating, communications, robotic inspection, and maintenance workflows for electric, gas, water, and telecom networks.

• Municipal and public-works customers. Sewer inspection, pipe assessment, and infrastructure-maintenance products are relevant to city, county, and regional agencies.

• Transportation, aviation, and marine users. Specialized lighting and navigation products serve airports, ports, marine operators, and related infrastructure users.

• Channel intermediaries. Distributors, manufacturers’ representatives, contractors, and installers are important because they frequently influence product selection and availability.

The customer base appears diversified by end market and by buying center. That is strategically useful because it reduces dependence on any single project type, while also creating complexity in channel management and product positioning.

8. What Is the Sales Model of SPX Technologies?

SPX Technologies uses a mix of direct and indirect selling, with the exact model varying by product category.

In HVAC, the sales process is often specification-led. A product may first be influenced upstream through engineers, consultants, or owners, then sold through distributors, representatives, OEM channels, or contractors that actually buy and install the equipment. This means the company must win both technical approval and channel execution.

In Detection & Measurement, larger accounts such as utilities, municipalities, transportation agencies, and enterprise infrastructure operators are more likely to involve direct sales, field demonstrations, and technical support. At the same time, distributors and international channel partners are important for reaching smaller buyers and broader geographies.

The channel structure affects growth and pricing in several ways. It affects growth because local rep density and contractor relationships can determine project access. It affects pricing because discounting discipline often sits at the intersection of manufacturer strategy and channel behavior. It affects customer intimacy because direct relationships with infrastructure operators generate better feedback on field needs than a purely distributor-led model would.

For consultants, this kind of mixed model creates clear opportunity areas: channel conflict management, account segmentation, specification selling, and aftermarket conversion are all material levers in businesses like SPX.

9. In What Geographies Does SPX Technologies Operate?

SPX Technologies is headquartered in Charlotte, North Carolina, and North America is its largest operating and customer region. That is especially true in HVAC, where product categories such as boilers, cooling towers, and air-treatment equipment tend to be supported by regional manufacturing, local representatives, and domestic project channels.

The company also has a meaningful international footprint. Europe is an important secondary geography, particularly as SPX has expanded HVAC capabilities there through acquisitions. Detection & Measurement has an even broader international reach because products such as locating tools, communications systems, and navigation lighting can serve global infrastructure markets more easily than some heavier HVAC equipment can.

Public information indicates operations and customer reach across the United States and into markets including the United Kingdom, continental Europe, Australia, and other selected international regions. The right way to think about SPX geographically is not as a uniformly global industrial giant, but as a North America-led company with several internationally scalable niche platforms.

10. Who Are the Owners of SPX Technologies?

SPX Technologies is a publicly traded company. Based on recent proxy materials and public ownership filings around 2024, it appears to have a widely held institutional shareholder base rather than a controlling owner. Large shareholders reported in public filings have included major asset managers such as The Vanguard Group, BlackRock, and State Street. No single shareholder appears to control the company.

11. How Is SPX Technologies Organized?

At a practical level, SPX Technologies is organized as a portfolio of operating businesses managed within two reporting segments.

• HVAC. This segment includes cooling, heating, ventilation, air-treatment, and related thermal-management businesses.

• Detection & Measurement. This segment includes locating, inspection, robotics, communications, and specialized safety or navigation products.

The reporting structure is simpler than the day-to-day operating reality. In practice, many businesses are managed through individual brands or platforms with their own product, channel, and application logic. Corporate management provides capital allocation, portfolio direction, financial oversight, and operating discipline, while the individual businesses retain a meaningful degree of local operating responsibility.

This structure is common for a serial acquirer in niche industrial markets. It allows SPX to preserve the market credibility of acquired brands while still pushing margin improvement, integration, and portfolio coherence from the center.

12. How Does SPX Technologies Operate?

SPX Technologies creates value by designing, sourcing, assembling, testing, selling, and supporting specialized industrial products. The day-to-day operating model varies by business, but the core pattern is consistent.

1. Product and application engineering. Many SPX products are not simple off-the-shelf items. They require application knowledge, regulatory understanding, and fit with building or field conditions.

2. Sourcing and manufacturing. The company buys metals, electronics, motors, controls, fabricated components, castings, and other inputs, then manufactures or assembles finished products in its facilities. Some products are standard; others are configured-to-order.

3. Channel execution and installation support. Products then move through direct channels, distributors, reps, contractors, or public procurement processes. In HVAC especially, execution depends on coordinating with specifiers and installers.

4. Aftermarket and field support. Replacement parts, service, technical support, calibration, and field training help protect the installed base and support repeat business.

Operational complexity comes from managing a portfolio of niche businesses with different lead times, certifications, demand patterns, and end-market cycles. Performance depends on getting the details right: inventory, pricing, product mix, capacity utilization, and post-acquisition integration all matter.

13. What Are the Growth Opportunities for SPX Technologies?

SPX Technologies has several plausible growth opportunities, some explicitly aligned with management commentary and some representing reasonable synthesis from the portfolio.

• Commercial HVAC efficiency and replacement demand. Building-efficiency upgrades, indoor air quality needs, and aging installed equipment can support demand for higher-value HVAC systems.

• Electrification and adjacent thermal management. Recent portfolio actions suggest SPX sees room to expand in categories linked to electrified heating, more complex building systems, and mission-critical environments.

• Infrastructure inspection and reliability. Utilities, municipalities, and telecom networks need ongoing locating, inspection, and maintenance tools. That supports demand for Detection & Measurement products even when discretionary capital spending softens.

• International expansion. Europe appears to be an especially relevant opportunity for HVAC, while several Detection & Measurement products can scale globally through distribution and direct infrastructure relationships.

• Aftermarket and installed-base monetization. Parts, service, retrofit, and replacement cycles offer a way to grow with less volatility than greenfield equipment demand alone.

• Continued bolt-on M&A. This is one of the clearest growth levers because management has repeatedly used acquisitions to deepen categories and improve portfolio quality.

The main constraints are also clear: commercial construction cycles, public-budget timing, integration risk, input-cost volatility, and the difficulty of maintaining channel strength across a growing portfolio. SPX’s growth case is credible, but it depends on execution as much as on end-market tailwinds.

14. What Is the History of SPX Technologies?

1. 1912: The company traces its roots to Piston Ring Company, founded in Muskegon, Michigan.

2. 20th century evolution: Through later corporate development, including the Sealed Power lineage, the business became SPX Corporation and spent many years as a diversified industrial company.

3. 1990s and 2000s: SPX expanded through acquisitions and operated as a broader industrial portfolio spanning multiple end markets.

4. 2015: SPX FLOW was spun off, a major step in simplifying the remaining company and separating the flow-equipment business from the rest of SPX.

5. Late 2010s to early 2020s: The portfolio was further reshaped through divestitures of lower-fit assets and acquisitions in HVAC and Detection & Measurement.

6. 2023: The company changed its name from SPX Corporation to SPX Technologies, reflecting its repositioning as a more focused industrial technology portfolio.

The key historical point is that SPX Technologies today is the product of portfolio transformation. It is not simply the old SPX with a new label; it is a much more focused company than the legacy conglomerate investors may remember.

15. What Are the Key Suppliers to SPX Technologies?

Suppliers matter to SPX Technologies because it manufactures engineered industrial products that depend on a mix of fabricated metal parts, electromechanical components, controls, electronics, motors, castings, heat-transfer components, and packaging and freight services.

The company does not appear to publicly center its strategy around a few named suppliers. Instead, the strategically important supplier categories are likely steel and other metals, copper and electrical components, fans and motors, sensors and electronics, controls, fabricated assemblies, contract-machined parts, and logistics providers. In Detection & Measurement, electronics and specialized components can be particularly important. In HVAC, commodity inputs and fabricated assemblies often matter more.

Supplier structure matters strategically for three reasons: input-cost inflation can pressure margins, component availability can lengthen lead times, and sole-source technical parts can create service risk. For a company like SPX, procurement discipline is therefore less about headline raw-material speculation and more about keeping niche businesses supplied without sacrificing delivery reliability.

16. What Are the Key Brands Owned by SPX Technologies?

Brands are an important strategic asset at SPX Technologies because many purchase decisions are specification-driven and influenced by installer familiarity, engineering trust, and installed-base comfort. Several of the company’s operating businesses are better known in their markets by brand than by the SPX corporate name.

In SPX’s markets, brand is not mainly about broad consumer awareness. It is about whether engineers, utilities, contractors, and field technicians trust a product enough to specify it, stock it, or stay with it over a replacement cycle.

17. How Does the Supply Chain of SPX Technologies Function?

SPX Technologies’ supply chain is important because many of its products are engineered, configurable, and tied to project schedules or field-service windows.

The upstream side of the supply chain includes sourcing metals, fabricated parts, motors, controls, electronics, sensors, castings, and other components. Some HVAC products are relatively heavy and fabrication-intensive, which increases the importance of plant scheduling, freight, and inventory planning. Detection & Measurement products can be lighter and more exportable, but they may depend more heavily on specialized electronics and technical assemblies.

Manufacturing and assembly are then followed by warehousing, channel shipment, installation support, and aftermarket parts replenishment. In HVAC, the supply chain often needs to align with project schedules and contractor sequencing. In Detection & Measurement, the company must support fast delivery to field operators that need tools and replacement parts with minimal downtime.

Reliability matters strategically. A late shipment can do more than delay revenue recognition; it can damage a rep relationship, disrupt a contractor’s schedule, or push a utility buyer toward a competing brand. For SPX, supply chain performance is therefore a commercial issue as much as an operations issue.

18. What Is the Finance Strategy of SPX Technologies?

SPX Technologies’ finance strategy appears tightly linked to its portfolio strategy. The company has not positioned itself as a yield-oriented industrial holding company. Instead, management has emphasized reinvestment, acquisition capacity, margin improvement, and cash generation.

At a high level, capital allocation appears to follow a familiar order: invest in the core businesses, pursue strategic bolt-on acquisitions, maintain balance-sheet flexibility, and use cash discipline to support value-creating portfolio moves. Strong free-cash-flow conversion matters because it helps fund acquisitions and internal investment without requiring constant reliance on equity issuance.

Working capital management is also strategically important. Because SPX sells a mix of configured equipment and field tools, inventory, lead times, and receivables can affect cash generation meaningfully. The company therefore needs finance processes that are integrated with operations, not just a traditional back-office control function.

The broader point is that finance at SPX is a strategic enabler. It supports the company’s move toward higher-quality end markets by making it possible to keep buying, integrating, and scaling niche businesses while still protecting returns.

19. What Major Acquisitions Has SPX Technologies Made?

Acquisitions have played an important role in SPX Technologies’ transformation. The company has used M&A not simply to add revenue, but to reshape the portfolio toward higher-growth, higher-quality niches. A selective list of important transactions includes the following.

• CUES (2019): Added a meaningful position in sewer and underground infrastructure inspection, broadening SPX’s Detection & Measurement exposure.

• Sealite (2021): Expanded the company into aviation, obstruction, and marine lighting and navigation products.

• Enterprise Control Systems, or ECS (2021): Added communications and data-link technologies, strengthening the Detection & Measurement portfolio.

• ULC Robotics (2022): Added robotic inspection and maintenance capabilities for utility and infrastructure applications.

• Ingénia (2024): Expanded SPX’s HVAC platform in Europe and added air-treatment-related capabilities.

• ASPEQ transaction (2024): Publicly presented as an HVAC and electrification-focused expansion into electric heating and related thermal-management categories.

This list is not exhaustive, but it captures the pattern. SPX has combined acquisitions with divestitures and corporate simplification to move away from the older conglomerate model and toward a focused industrial technology portfolio.

20. How Companies Like SPX Technologies Leverage Independent Consultants through Umbrex

Umbrex has grown a global community of over 8,000 independent management consultants who are based in more than 50 countries. These consultants are alums of McKinsey, Bain, BCG, and other top consulting firms. Companies like SPX Technologies engage Umbrex when they need talent with the training these top global firms provide but they do not need a full team with all the overhead. Umbrex has consultants across Strategy, Operations, Organization, Marketing, Sales, Finance, Technology, ERP, and AI. For a company like SPX Technologies, the most relevant work is usually tightly scoped, execution-oriented, and linked to current portfolio priorities.

• HVAC portfolio strategy refresh: clarify where SPX should focus next across cooling, heating, air quality, and electrification adjacencies.

• Bolt-on acquisition screening and commercial diligence: identify and evaluate targets in HVAC, utility inspection, communications, or infrastructure-safety niches.

• Post-merger integration planning: build a 100-day integration plan for acquired businesses while preserving local brand strength and channel relationships.

• Pricing architecture and discount governance: redesign price waterfalls, rebate structures, and value-based pricing for rep- and distributor-led channels.

• Data-center and mission-critical end-market strategy: assess where SPX’s thermal-management capabilities have the strongest right to win and what channels matter most.

• Aftermarket growth program: expand parts, retrofit, and service revenue from the installed base across HVAC and Detection & Measurement brands.

• Sales-channel optimization: refine territory design, rep coverage, distributor strategy, and specification-selling effectiveness.

• Procurement and supply-chain improvement: run should-cost sourcing, supplier segmentation, inventory optimization, and Sales and Operations Planning upgrades.

• European growth playbook: support market prioritization, localization, and channel design following acquisitions such as Ingénia.

• ERP, data, and AI-enabled operations analytics: improve forecasting, working-capital visibility, service planning, and management reporting across a multi-brand portfolio.