Expands Cooling Platform with Complementary Water Management and Control Solutions CHARLOTTE, N.C., Sept. 15, 2026 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE: SPXC) (“SPX Technologies” or the “Company”) announced today that it has completed the acquisition of FIS Water, LLC (“FIS Water”) including certain tax attributes for a total cash consideration of approximately $410 million. Formed in 2018, FIS Water comprises a portfolio of well-established brands providing highly engineered water management and control solutions used primarily in commercial and industrial cooling applications. Its products help protect and optimize cooling systems by removing solids, maintaining water quality and controlling water flow. Through its LAKOS, Puroflux, Superior, VAF and VSI brands, the business serves many of the same customers and channels as SPX’s existing Cooling platform, including applications in data centers and other demanding commercial and industrial environments. FIS Water has joined SPX Technologies’ HVAC segment and will operate within the Cooling platform. Its water management products are highly complementary to SPX’s cooling-tower offerings, with significant overlap across customers, engineering specifications and sales channels. The company’s valve and actuator portfolio also complements SPX’s recently acquired Neptronic business and expands SPX’s capabilities in HVAC control solutions. SPX plans to support FIS Water’s growth through its global channels, OEM relationships, specification-driven sales capabilities and operating resources. Headquartered in Fresno, California, FIS Water has approximately 120 employees and is expected to generate revenue of approximately $105 million in 2026. SPX management will provide updated 2026 guidance, including the impact of FIS Water, when it reports its financial results for the third quarter of 2026. “We are pleased to welcome FIS Water to SPX Technologies,” said Gene Lowe, President and CEO of SPX Technologies. “FIS Water is a natural extension of our Cooling platform. Its products are used in cooling systems to improve water quality, protect critical equipment and enhance system reliability, efficiency and asset life. The business also has significant customer and channel overlap with our existing Cooling operations. In addition, FIS Water’s valve and actuator portfolio complements Neptronic and expands our capabilities in HVAC control solutions. We see attractive opportunities to accelerate growth across the portfolio through SPX’s global channels, OEM relationships and specification-driven sales capabilities.” “We are delighted to join SPX Technologies’ Cooling business,” said Scott Thomas, President of FIS Water. “SPX shares our commitment to product quality, application expertise and strong channel partnerships. Its established presence in cooling markets, global reach, OEM relationships and operating resources will help us accelerate growth while preserving the brands, customer relationships and entrepreneurial culture that have made FIS Water successful.” About SPX Technologies, Inc. SPX Technologies is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in Charlotte, North Carolina, SPX has operations in 16 countries. SPX Technologies is listed on the New York Stock Exchange under the ticker symbol “SPXC.” For more information, please visit www.spx.com. About FIS Water FIS Water is a leading provider of highly engineered water management and control solutions used in commercial and industrial cooling applications and selected water source and distribution applications. Through its LAKOS, Puroflux, Superior, VAF and VSI brands, FIS Water provides products that help protect critical equipment, improve water quality and enhance system performance. Forward Looking Statements: Statements in this press release that express a belief, expectation, or intention, as well as those that are not historical fact, including plans to expand FIS Water’s sales, are forward-looking statements under the Private Securities Litigation Reform Act of 1995. The words “intends,” “plans,” “will,” “believe,” “expected,” “anticipated,” and similar expressions identify forward-looking statements. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These forward-looking statements involve a number of risks and uncertainties that may cause actual events and results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to: risks that the acquisition disrupts current plans and operations of SPX Technologies or FIS Water; the risk that the disruption from the transaction may make it more difficult to maintain business and operational relationships, including retaining and hiring key personnel and maintaining relationships with FIS Water’s vendors and others with whom FIS Water does business; and risks and uncertainties with respect to SPX Technologies’ ability to recognize the anticipated benefits of the transaction, including expanding FIS Water’s sales. SPX Technologies’ filings with the Securities and Exchange Commission, including its most recent Form 10-K and Form 10-Q, describe other risks and uncertainties. Statements in this press release speak only as of the date of this press release, and SPX Technologies disclaims any responsibility to update or revise such statements, except as required by law. SPX Investor Contact: Johann Rawlinson, Vice President, Investor Relations Phone: 980.228.6028 Email: spx.investor@spx.com Source: SPX Technologies

FIS Water (Flow Innovation Solutions) is pleased to announce the acquisition of VAF - Self Cleaning Screen Filters from Evoqua/Xylem, global leader in water technologies. This acquisition expands FIS Water’s product offerings to include a broad range of screen filtration systems for the Industrial, Commercial HVAC, Data Centers, Turf, Landscape, and Municipal markets. “We are excited to welcome VAF products to FIS Water,” said Scott Thomas, President. “VAF is a well-known and respected brand with a great reputation in the water filtration space. VAF has strong channel partners with reach into various markets, and we are looking forward to strengthening existing relationships and expanding VAF's core markets.” FIS Water focuses on advancing solid-liquid separation, conditioning, and flow control through innovative technologies.

This acquisition is FIS's fourth since its formation, and expands the company’s product offerings to include controls, pump packages and a broad range of sand filtration products. “We are excited to welcome Puroflux to FIS Water.” said Ken Rodi, CEO. “Puroflux is a well-known and respected brand with a great reputation in the HVAC and commercial cooling space. The company has established a strong global sales network with high quality products, and we are looking forward to working with Dennis Jamison, President of Puroflux, and his existing team to expand their core markets.”

FIS Water (Flow innovation Solutions) is pleased to announce the acquisition of VSI, LLC and VSI Waterworks, LLC (together “VSI”), an Alpharetta, GA based manufacturer of manual and automated valves used in the commercial, industrial, and municipal markets. The acquisition of VSI is FIS’s third acquisition since its formation and expands the company’s product offering into flow control components. “We are excited to welcome VSI to FIS Water” said Ken Rodi, CEO of FIS Water. “VSI has grown rapidly in its core markets and its high quality and broad line of valves and actuation products and accessories is an exciting expansion of our water portfolio. We look forward to offering our customers and channel partners a single source for their water filtration, conditioning and flow control needs. Founded by Charles Osborne in 1995, VSI has built a strong management team, and we look forward to working closely with them as we integrate the business into our FIS platform.” Charles Osborne, President of VSI, added “finding the right strategic buyer for our business was critical and I am pleased with the transition of the business to FIS. This acquisition reinforces our commitment to delivering high-quality, cost-effective solutions while expanding our reach across multiple markets. The integration of our manual and automated valve offerings within FIS’s broad commercial and operational platform allows us to offer a more comprehensive approach to system performance, enhancing flexibility and value for our customers. This strategic move strengthens customer confidence by providing system solutions for specific applications and operational needs.”

FIS Water is pleased to announce the acquisition of Superior Manufacturing, LLC (“Superior”), a Fort Wayne, IN based manufacturer of chemical-free, magnetic water conditioning systems used to reduce scale in residential, commercial and industrial applications. The acquisition of Superior is FIS’s second acquisition since its formation and bolsters the platform’s water treatment product offering. “We are excited to welcome Superior Water Conditioning to FIS” said Ken Rodi, CEO of FIS. “Superior’s unique non-chemical conditioning product is a perfect add on to our LAKOS business and will allow for the expansion of our offering to existing customers and channel partners. Superior has been in the capable hands of the Sanderson family for many years. We are proud to continue their legacy of exceptional customer service and product quality in the water treatment markets.” Scott Sanderson, President of Superior, added “Superior is proud of the growth and success we have achieved in the water conditioning market. As we looked to transition our family business, our goal was to select a partner that would not only continue to invest in the business for growth but also honor my father’s legacy. We are very proud to be part of the FIS team and we are confident that the business will continue to flourish under their ownership”.

FIS Water is pleased to announce that it has acquired LAKOS Filtration Solutions a Fresno, California-based manufacturer of filtration systems for the industrial, commercial, agricultural irrigation, and residential groundwater markets. LAKOS’s core Separator products remove solids from liquids, mainly through an environmentally friendly centrifugal action. LAKOS Filtration Solutions was formed in 1972 and is based in Fresno, California