SPX Technologies acquires T. A. Morrison & Co. Inc. (“TAMCO”)
Snapshot
SPX Technologies acquired T. A. Morrison & Co. Inc. (“TAMCO”) for $125.5 million (inclusive of a $0.2M working-capital adjustment; net of $1.0M cash acquired) in April 2023. The transaction was structured as all cash. T. A. Morrison & Co. Inc. (“TAMCO”) is a HVAC business.
- Acquirer
- SPX Technologies
- Target
- T. A. Morrison & Co. Inc. (“TAMCO”)
- Value
- $125.5 million (inclusive of a $0.2M working-capital adjustment; net of $1.0M cash acquired)
- Date
- April 2023
- Type
- full acquisition
- Status
- ready
The deal at a glance
About this deal
SPX Technologies acquired T. A. Morrison & Co. Inc. (“TAMCO”) for $125.5 million (inclusive of a $0.2M working-capital adjustment; net of $1.0M cash acquired), a transaction completed in April 2023, structured as all cash.
T. A. Morrison & Co. Inc. (“TAMCO”) operates in HVAC. TAMCO is a market leader in motorized and non-motorized dampers that control airflow in large-scale specialty applications in commercial, industrial, and institutional markets.
Adds a market-leading damper franchise to SPX's engineered air movement HVAC platform.
Market leadership in airflow-control dampers with cross-sell and capacity-expansion potential. HVAC reportable segment CEO: “We really like this … engineered air movement. You talk about Ingénia, you talk about TAMCO, you talk about Strobic and Cincinnati Fan. We see a lot of runway here.”
No advisory firms have been disclosed for this transaction.