SPX Corp.

SPX Corp.

SPX Corp.

Overview
Date Founded

1912

Headquarters

13320-A Ballantyne Corporate Place,Charlotte, NC 28277

Type of Company

Public

Employees (Worldwide)

5,000

Industries

Other Manufacturing
Appliances & Electronics
Aerospace & Defense
Industrial Machinery & Manufacturing
Industrial Conglomerates
Engineering, Construction & Architecture

Company Description

With more than $5 billion in annual revenue, Charlotte, North Carolina-based SPX is a multi-industry manufacturing leader with operations in more than 35 countries and approximately 15,000 associates worldwide. Meeting the critical needs of world economies – particularly today’s fast-growing emerging markets – has been the driving force behind our strategic expansion and success in recent years. Since 1998, acquisitions and focused organic growth have helped SPX transition from a U.S.-centric automotive component manufacturer with less than $1 billion in sales, to a globally diversified provider of highly engineered, innovative products and technologies that support two critical needs of modern societies: power and energy; and foods and beverages. SPX solutions play a vital role in global infrastructure expansion to help meet increased demand for electricity, and in helping food and beverage producers increase their capacity to more efficiently deliver greater quantities of safer, higher quality products. Our long-term strategy is focused on serving these two core end markets in emerging, as well as developed countries, through our two largest business segments: Flow Technology and Thermal Equipment and Services. SPX associates work collaboratively across business segments and borders to deliver greater efficiencies and better ideas for helping our customers succeed and grow their businesses. At SPX, imagination and innovation are as valued as product reliability and profitability. We continuously pursue new and better ways of thinking and working, and collaborating with our customers around the world

Website
Contact Data
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Executives & Employees

Director, President & Chief Executive Officer

Vice President, Chief Financial Officer & Treasurer

Vice President, Secretary & General Counsel

Vice President & Chief Human Resources Officer

Vice President, Finance, Corporate Controller & Chief Accounting Officer

President-South Africa & Head-Global Operations

Vice President, Investor Relations & Communications

Executive Officer

President, Weil-Mclain, Marley Engineered Products & President, Radiodetection

Managing Partner

Board of Directors

Former Executive Chairman at Carlisle Cos., Inc.

Director at UNC Charlotte Foundation

Chief Financial Officer, Treasurer & Vice President, Finance at The Marley Company

Director, President & Chief Executive Officer at SPX Corp.

Former Executive Vice President & Chief Financial Officer at Snyder's-Lance, Inc.

Managing Director at CCMP Capital Advisors LP

Vice President, Sustainable Solutions Division at Caterpillar, Inc.

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SPX Corp.
Owners & Shareholders
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ACR Alpine Capital Research (ACR) seeks to measure the intrinsic value of a security by looking at economic and financial factors (including the overall economy, industry conditions and the financial condition and management of the company itself) to determine if the company and its related securities are underpriced (indicating it may be a good time to buy) or overpriced (indicating it may be time to sell). This is a fundamental investment approach that does not attempt to anticipate market movements. The firm's Equity Quality Return (EQR Strategy) employs bottom-up fundamental analysis to identify undervalued stocks. EQR invests in equity securities with the idea of holding them in the client's account for a year or more. EQR invests primarily in common stocks with corporate headquarters in the US and Canada. It is invests in companies of any size including large, mid and small capitalization, but tends to focus on large-cap stocks. For their Fixed Income High Grade Strategy (FHG), ACR purchases fixed income instruments they deem to be of high quality. The strategy is designed to protect capital from loss of principal and interest by investing only in very high grade fixed income securities, (b) to provide cash flow and liquidity via interest income, regular maturities and price stability and (c) to obtain the highest after-tax yield possible without sacrificing credit quality standards. The maximum duration for this strategy is 10 years.The ACR Multi-Strategy Quality Return Funds invest in a range of securities including public securities and private securities. The funds typically pursue their investment objectives by investing their assets in equity securities, debt securities, derivative securities, cash and cash equivalents. The funds may also invest in other types of financing instruments such as convertible bonds and preferred stocks, ADRs, EDRs, and REITs. ACR may use a short selling strategy for a portion of the funds' assets, including two general types of short positions: directional and arbitrage.ACR invests the ACR International Quality Return (IQR) Fund’s assets primarily in equity securities of companies located outside of the US. The fund invests mainly in common stock, preferred stock, ADRs, EDRs and GDRs. When fully invested, the fund’s portfolio generally consists of approximately 20 holdings not limited by security type, issuer size or geographic location.

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Corsair Capital Management (CCM) manages private funds that are designed to achieve above-average or superior capital appreciation, relative to the risks assumed. The funds emphasize total return, rather than current income. CCM seeks to identify investment opportunities which may not be readily apparent to money managers or traders who direct investment programs similar to the private funds. The firm has particular expertise in investing in companies undergoing financial restructuring, including spin-offs, post-reorganization companies, and other catalyst-driven opportunities. CCM mainly uses fundamental research to evaluate and assess potential portfolio investments.CCM's private funds primarily invest in publicly traded equity securities of US and Canadian corporations. The funds may also invest in \"hybrid\" securities, such as convertible securities, and in the securities of foreign issuers, including those traded overseas and the in the US. In addition, the funds may engage in several forms of arbitrage, such as balance sheet arbitrage or pair-trading. CCM's investment strategies may also engage in short selling and options transactions, and employ the use of leverage.

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Copper Rock Capital Partners focuses on managing and servicing small and small- to mid-cap growth clients. The firm seeks to add value through bottom-up stock selection. Investment decisions are based on in-depth fundamental research. The investment team generates initial investment ideas from a number of sources including organic ideas, proprietary screens and bottom-up themes. This eligible universe is then streamlined to an investable universe. Investment ideas that survive this initial research stage are subject to rigorous and detailed fundamental analysis before being purchased into clients' portfolios. Copper Rock Capital Partners incorporates rigorous buy and sell disciplines in the investment process. They invest in companies with growing revenues, expanding margins and increasing market shares. In addition to these characteristics, the firm looks for companies with strong management teams. Holdings are reduced or sold as target prices are attained, if there is a change in the company's management team or stated business objectives or if there is deterioration in a company's fundamentals. Their investment strategies include: International Small Cap, Global Small Cap, Emerging Markets Small Cap, Global All Cap and Concentrated Global All Cap.

Recent Transactions
Details Hidden

Godrej & Boyce Manufacturing Co. Ltd. purchases Spx Corp. /Heat Transfer Business from SPX Corp.

Details Hidden

SPX Corp. purchases Elxsi Corp.

Details Hidden

SPX Corp. purchases Schonstedt Instrument Co.

Transaction Advisors
Accountant

Advised onGeneral Electric Company, GE Infrastructure Security, Inc. purchase SPX Holding, Inc. from SPX Corp.

Accountant

Advised onSPX Corp. purchases Core Industries, Inc.

Accountant

Advised onSPX Corp. purchases General Signal Corp.

Legal Advisor

Advised onGeneral Electric Company, GE Infrastructure Security, Inc. purchase SPX Holding, Inc. from SPX Corp.

Legal Advisor

Advised on purchases SPX Flow, Inc. from SPX Corp.

Legal Advisor

Advised on purchases SPX Flow, Inc. from SPX Corp.

Advisors & Consultants
Legal Advisor

Partner at Winston & Strawn LLP

Legal Advisor

Chairman Emeritus at Vedder Price P.C.

Legal Advisor

Chair, Employee Benefits & Executive Compensation Practice at Winston & Strawn LLP

Clients

General Electric Co. is a technology and financial services company that develops and manufactures products for the generation, transmission, distribution, control and utilization of electricity. Its products and services include aircraft engines, power generation, water processing, security technology, medical imaging, business and consumer financing, media content and industrial products. The company operates through eight segments: Power, Oil & Gas, Aviation, Healthcare, Transportation, Appliances & Lighting and GE Capital. The Power segment serves power generation, industrial, government and other customers worldwide with products and services related to energy production. The Oil & Gas segment supplies mission critical equipment for the global oil and gas industry, used in applications spanning the entire value chain from drilling and completion through production, liquefied natural gas and pipeline compression, pipeline inspection, and downstream processing in refineries and petrochemical plants. The Aviation segment products and services include jet engines, aerospace systems and equipment, replacement parts and repair and maintenance services for all categories of commercial aircraft; for a wide variety of military aircraft, including fighters, bombers, tankers and helicopters; for marine applications; and for executive and regional aircraft. The Healthcare segment products include diagnostic imaging systems such as magnetic resonance, computed tomography and positron emission Tomography scanners, X-ray, nuclear imaging, digital mammography and molecular imaging technologies. The Transportation segment engages in global technology and supplier to the railroad, mining, marine and drilling industries. The Appliances & Lighting segment products include major appliances and related services for products such as refrigerators, freezers, electric and gas ranges, cooktops, dishwashers, clothes washers and dryers, microwave ovens, room air conditioners, residential water systems for filtration, softening and heating, and hybrid water heaters. The GE Capital segment offers financial services and products worldwide for businesses of all sizes, services include commercial loans and leases, fleet management, financial programs, credit cards, personal loans and other financial services. The company was founded by Thomas A. Edison in 1878 and is headquartered in Boston, MA.

BAE Systems is a global defence, aerospace and security company employing around 93,500 people worldwide. Our wide-ranging products and services cover air, land and naval forces, as well as advanced electronics, security, information technology, and support services.

Alstom SA engages in the provision of transport services. It operates through the following sgements: Rolling Stock, Services, Systems, and Signalling. It offers offers a complete range of solutions from trains to metros, tramways, and e-buses;, passenger solutions; customised services like maintenance and modernisation; infrastructure; signallin; and digital mobility solutions. The company was founded in 1989 and is headquartered in Saint-Ouen, France.

Key Stats and Financials As of 2017
Market Capitalization
$1.56B
Total Enterprise Value
$1.61B
Earnings Per Share
$1.91
Total Equity
$315M
Total Debt
$357M
Revenue
$1.43B
Net Profit
$84M
Enterprise Value Sales
1.13x
Enterprise Value EBITDAOperating
22.81x
TEVNet Income
19.17x
EBITDAMargin
4.95%
Debt TEV
0.22x
EBITDA
$70.6M
Three Year Compounded Annual Growth Rate Of Revenue
-32.91%
Five Year Compounded Annual Growth Rate Of Revenue
-22.5%
Non-Profit Donations & Grants
Investments
Details Hidden

Prepared Response Inc. provides emergency preparedness, crisis management and homeland security solutions. The firm's primary markets include education, corporate, transportation systems, hospital, sports stadiums, hospitality, industrial facilities, museums, and critical infrastructure. The company was founded by Sterling Griffin in September 2000 and is headquartered in Kirkland, WA.

Suppliers
A.M. Castle & Co. Wholesale: Raw Materials | Oak Brook, IL

A. M. Castle & Co. (NYSE:CAS) is the foremost provider of specialty products, services, and supply chain solutions. We are recognized as a leading distributor of carbon, alloy, stainless steel, nickel alloys, aluminum, titanium, cast iron, brass, copper, and plastic, as well as a global resource for complex supply chain solutions. Operating in more than 55 locations throughout North America, Europe and Asia, we work with international OEMs to better serve their multi-location production requirements and delivery needs. We also leverage our long-standing metals experience and focus on processing and other value-added services to better meet the unique requirements of industries such as aerospace, defense, oil and gas, power generation and heavy equipment. By expanding our capabilities and services, A. M. Castle is growing to serve the more complex requirements of customers who are outsourcing non-core functions. Our highly regarded H-A Industries, a state-of-the art bar processing facility, provides an extensive range of thermal treating and finishing services. In addition, we offer a comprehensive range of (high value added) processing services for plate, sheet, tubing, and bar products from many of the locations in our North American network. Today, A. M. Castle is continuing to expand globally. Since acquiring full ownership of Castle de Mexico in early 2004, we have seen this organization grow rapidly. With the acquisition of Transtar Metals in 2006, we have further extended our global footprint with two locations in Europe, along with a strong network of agents throughout Asia; more than a third of Castle Metals Aerospace’s customers are located outside North America. To accommodate this accelerated growth in products, services and customer support, we are continuing to expand and strengthen our infrastructure. This work includes key efforts in an organization-wide ERP (Enterprise Resource Planning) system, as well as re-engineering in specific facilities. More importantly, A. M. Castle continues to focus on developing the strongest service team in our industry. We are committed to developing our team to ensure that we have the right people, with the capabilities and experience needed, to provide our customers with best-in-class service and support

Forterra Trust Real Estate Investment Trusts | Singapore, CE

Forterra Trust provides real estate investment and development services. The firm engages in owning, investing in and proactively managing for optimum unit holder return, income-producing real estate used primarily for commercial purposes. It also engages in acquiring, owning, repositioning and developing land, under-performing assets and incomplete developments which are used as commercial real estate. The company was founded on May 19, 2010 and is headquartered in Singapore.

TRC Cos., Inc. Holding Companies | Lowell, MA

TRC Cos., Inc. provides environmental engineering and consulting services. The firm’s services include air quality management, building sciences & industrial hygiene, coal ash management, construction & construction management , energy efficiency, environmental permitting, testing & compliance engineering, environmental engineering and remediation, environmental health and safety management, infrastructure services, insite pro, integra link, integrity management services and permitting & regulatory filings. The company was founded in 1969 and is headquartered in Lowell, MA.

Competitors
Colfax Corporation Industrial Machinery & Manufacturing - Annapolis Junction, MD

Colfax Corp. is an industrial manufacturing and engineering company, which engages in the provision of gas and fluid handling; and fabrication technology products and services to commercial and governmental customers. The firm distributes its services through the Howden, ESAB, and Colfax Fluid Handling brand names. It operates its business through the Gas and Fluid Handling; and Fabrication Technology business segments. The Gas and Fluid Handling segment includes pumps; fluid-handling systems and controls; specialty valves; heavy-duty centrifugal and axial fans; rotary heat exchangers; and gas compressor. The Fabrication Technology develops, manufactures, and supplies consumable products and equipment. The company was founded by Mitchell P. Rales and Steven M. Rales in 1995 and is headquartered in Annapolis Junction, MD.

General Electric Company Power & Utilities - CINCINNATI, OH

General Electric Co. is a technology and financial services company that develops and manufactures products for the generation, transmission, distribution, control and utilization of electricity. Its products and services include aircraft engines, power generation, water processing, security technology, medical imaging, business and consumer financing, media content and industrial products. The company operates through eight segments: Power, Oil & Gas, Aviation, Healthcare, Transportation, Appliances & Lighting and GE Capital. The Power segment serves power generation, industrial, government and other customers worldwide with products and services related to energy production. The Oil & Gas segment supplies mission critical equipment for the global oil and gas industry, used in applications spanning the entire value chain from drilling and completion through production, liquefied natural gas and pipeline compression, pipeline inspection, and downstream processing in refineries and petrochemical plants. The Aviation segment products and services include jet engines, aerospace systems and equipment, replacement parts and repair and maintenance services for all categories of commercial aircraft; for a wide variety of military aircraft, including fighters, bombers, tankers and helicopters; for marine applications; and for executive and regional aircraft. The Healthcare segment products include diagnostic imaging systems such as magnetic resonance, computed tomography and positron emission Tomography scanners, X-ray, nuclear imaging, digital mammography and molecular imaging technologies. The Transportation segment engages in global technology and supplier to the railroad, mining, marine and drilling industries. The Appliances & Lighting segment products include major appliances and related services for products such as refrigerators, freezers, electric and gas ranges, cooktops, dishwashers, clothes washers and dryers, microwave ovens, room air conditioners, residential water systems for filtration, softening and heating, and hybrid water heaters. The GE Capital segment offers financial services and products worldwide for businesses of all sizes, services include commercial loans and leases, fleet management, financial programs, credit cards, personal loans and other financial services. The company was founded by Thomas A. Edison in 1878 and is headquartered in Boston, MA.

Emerson Electric Co. Industrial Machinery & Manufacturing - St Louis, MO

Emerson Electric Co. engages in the provision of measurement and analytical instrumentation; industrial valves and equipment; process control systems, and tools and appliance solutions for customers in a range of industrial, commercial, and consumer markets. It operates through the following segments: Automation Solutions, Climate Technologies, and Tools and Home Products. The Automation Solutions segment offers products; software and technology; and engineering, project management, consulting services and integrated manufacturing solutions for precision measurement, control, monitoring, asset optimization, and safety and reliability of oil and gas reservoirs, manufacturing operations, and plants that process or treat various items. The The Climate Technologies segment provides products and services for many areas of the climate control industry, including residential heating and cooling, commercial air conditioning, and commercial and industrial refrigeration. The Tools and Home Products segment sells tools for professionals and homeowners; and appliance solutions. The company was founded by Charles Meston and Alexander Meston on September 24, 1890 and is headquartered in St. Louis, MO.