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SPX Strengthens High-Efficiency Commercial Heating Portfolio with Purchase of Patterson-Kelley

SPX Corporation’s (NYSE: SPXC) subsidiary, The Marley Company, LLC, recently purchased Patterson-Kelley, a manufacturer and distributor of commercial boilers and water heaters. The strategic acquisition will broaden SPX’s HVAC platform in the high-efficiency boiler segment of the heating market.

Patterson-Kelley will operate as a subsidiary of SPX, and a part of the broader SPX HVAC platform, which consists of industry-leading products from Weil-McLain, Marley Engineered Products, SPX Cooling Technologies and now Patterson-Kelley.

John Swann, President of SPX’s HVAC Heating and Location & Inspection groups, commented, “Patterson-Kelley’s strong brand, technology, and high-quality line of commercial boilers and water heaters are the perfect complement to SPX’s HVAC heating platform and Weil-McLain’s existing portfolio of commercial and residential boilers.

“This acquisition broadens SPX’s high efficiency product offering and significantly strengthens our market coverage and application support capabilities,” said Swann. “Specifying engineers and design-build contractors will be able to select from a wide range of high-efficiency commercial boilers from 399 MBH to 4,000 MBH, allowing us to better serve all major segments of the hydronic heating market. Weil-McLain will continue to sell primarily through its best-in-class distribution network, while Patterson-Kelley will focus more on engineering-driven project sales.”

Swann further commented, “We are committed to meeting the evolving needs of our customers with ongoing investment and innovation. The addition of P-K to the SPX family reflects our strategic goals of providing technology leadership, application expertise and outstanding service to increase the value we deliver to the market. We are very excited about our future.”

Patterson-Kelley is headquartered in East Stroudsburg, Pa., and has approximately 100 employees. With more than 100 years in the industry, Patterson-Kelley is expected to have full-year 2019 revenue of approximately $35 million.

To learn more about SPX’s recent acquisition, please view the announcement on the SPX website: https://www.spx.com/spx-announces-purchase-of-patterson-kelley-from-harsco-corporation/.

More information on Patterson-Kelley’s line of commercial boilers and water heaters is available at www.pattersonkelley.com.

About SPX Corporation

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 2018 and approximately 4,000 employees in 17 countries. SPX Corporation is listed on the New York Stock Exchange under the ticker symbol “SPXC.” For more information, please visit www.spx.com.

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