SPX Heat Transfer Inc., Charlotte, has completed its acquisition of most of the assets and certain liabilities of Tulsa-based Yuba Heat Transfer LLC, a supplier of feedwater heaters and condensers used by nuclear, solar, geothermal, gas and coal power generation facilities. The purchase price was approximately $125 million.
“This strategic acquisition is meant to position SPX Heat Transfer Inc. to address the U.S.’s rapidly aging energy infrastructure,” says Christopher J. Kearney, SPX chairman, president and CEO. SPX expects that Yuba’s “facilities, market position and broad array of proven heat transfer solutions to significantly expand the competencies and reach of our existing global heat exchanger business,” Kearney says.
SPX Finalizes Yuba Deal
March 1, 2010