On February 1, 2019, SPX Corporation (“SPX”) (NYSE: SPXC) completed its purchase of assets from Carmanah Technologies Corporation’s (“Carmanah”) (TSX:CMH) marine business. The acquisition includes all of the issued and outstanding equity interests of each of Sabik Oy, Sabik Oü, Sabik PTE Ltd., and Sabik Ltd., and their respective assets, as well as Carmanah’s Airfield Ground Lighting business, it’s Aviation Obstruction Lighting business, as well as some miscellaneous business assets that support the businesses to be sold.
SPX Corporation is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC, detection and measurement, and engineered solutions markets. Based in Charlotte, North Carolina, SPX Corporation had approximately $1.4 billion in annual revenue in 2017 and more than 5,000 employees in about 14 countries.
Miller Thomson advised SPX in this transaction with a team that included Andrew Cohen (Corporate/M&A) and Bruno Caron (Capital Markets & Securities).