Charlotte-based SPX Corp. has completed the sale of its Thermal Product Solutions (TPS) business to Resilience Capital Partners for approximately $43 million. TPS designs and manufactures industrial and laboratory ovens and furnaces as well as environmental temperature cycling and stability test chambers.
In SPX's most recent financial filings, the results of TPS were reported as discontinued operations for all periods presented. It had previously been reported in the Industrial Products and Services and Other segment.
PricewaterhouseCoopers Corporate Finance LLC acted as financial advisor to SPX on the transaction.