SPX to spin off Flow business

The Future Flow Company, which will have annual revenues of around US$3 billion, will consist of SPX’s current Flow segment and its hydraulic technologies business. The product range will include centrifugal and reciprocating pumps, control valves, filtration and dehydration equipment, mixers, plate heat exchangers and hydraulic technologies. The company will also provide skidded and full-line systems, as well as aftermarket replacement components, parts and services. Key brands will include ClydeUnion, M&J Valve, Copes Vulcan, Bran & Luebbe, GD Engineering, Plenty, APV, Waukesha Cherry-Burrell, Anhydro, Gerstenberg Schroder, Seital, e&e, Lightnin, Johnson Pump, Dollinger, Pneumatic, Delair, Deltech, Power Team, Bolting Systems and Hytec.

The balance of SPX will become the Future Infrastructure Company, a standalone diversified infrastructure company with annual revenues of about US$2 billion. The Future Infrastructure Company will be home to SPX’s current Thermal segment and its power transformer, Radiodetection, Genfare and communication businesses. Product lines will include cooling technologies, power transformers, heat exchangers, pollution control filters, residential and commercial boilers, comfort heating products, underground locators, fare collection systems and communication technologies. The main Future Infrastructure Company brands will be Marley, Waukesha, Balcke-Duerr, Recold, Weil-McLain, Marley Engineered Products, Radiodetection, Genfare, TCI and Flash Technologies.

SPX chairman, president and CEO Chris Kearney will serve as chairman, president and CEO of the Future Flow Company, while Gene Lowe, currently the president of SPX’s Thermal Equipment and Services segment, will become president and CEO of the Future Infrastructure Company.

 This transaction is expected to be completed within 12 months.