SPX Corporation announced that it has completed the acquisition of SGS Refrigeration Inc. (“SGS”), based in Dixon, Illinois. SGS is a manufacturer and distributor of industrial refrigeration products in the North American market.
“We are excited about SGS joining the SPX team” said Gene Lowe, President and CEO of SPX Corporation. “As a leader in industrial refrigeration, SGS has operated as a close partner with SPX in the evaporative condenser market."
"I am very pleased with the progress this partnership has made and look forward to the next phase of our growth together, as we combine our resources to further expand our addressable market and product suite of industrial refrigeration solutions.”
inter-company sales
SGS’s 2018 annual revenues were approximately $15 million, including approximately $3.5 million of inter-company sales with SPX. The company’s results will be reported as a part of SPX’s HVAC Cooling business unit within its HVAC segment.