A. Buchholtz & Company Closes Sale of TAMCO to SPX Technologies
NEW YORK, April 6, 2023 /PRNewswire/ -- A. Buchholtz & Company ("AB&C") is pleased to announce the acquisition of its client, T. A. Morrison & Company ("TAMCO" or the "Company"), by SPX Technologies Inc. (NYSE:SPXC) for approximately US$125 million in cash.
Headquartered in Smiths Falls, Ontario, Canada, 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. The Company has operations in Canada and the U.S. and is recognized for its eco-friendly solutions that provide low levels of air leakage in critical thermal applications for data centers and healthcare facilities, among others.
As part of SPX Technologies' HVAC segment, TAMCO will expand SPX Technologies' position in Engineered Air Movement solutions and be accretive to its growth and margin.
In its announcement of the deal, Gene Lowe, President and CEO of SPX Technologies said, "We are very excited about welcoming TAMCO to the SPX Technologies team. TAMCO's well-respected brand and attractive niche-engineered products are a strong fit within our Engineered Air Movement business."
Andrew Buchholtz, President of A. Buchholtz & Company, a boutique investment banking firm, said of the deal, "TAMCO was a phenomenal client, it is a well-run, market-leading company and the strategic fit with the acquirer couldn't be better. SPX is an excellent home for this long-held private business." AB&C found the perfect buyer for TAMCO and achieved management's objectives in approximately six months from initiation of the assignment.
"The team at TAMCO looks forward to working with the SPX Technologies' team to build an even stronger, more valuable platform," said Ron Chappell, President and CEO and primary owner of TAMCO.
About A. Buchholtz & Company: A. Buchholtz & Company is an M&A and financing advisory firm headquartered in New York whose clients include business owners, entrepreneurs, private equity firms, corporations and investors worldwide. The firm custom tailors each strategic assignment with the objective of creating multiple attractive exit or financing opportunities for every client. AB&C's professionals have advised on more than $3 billion of transactions. For more information, please visit www.abuchholtz.com.
View original content:https://www.prnewswire.com/news-releases/a-buchholtz--company-closes-sale-of-tamco-to-spx-technologies-301791085.html
SOURCE A. Buchholtz & Company
