SPX Corp., a manufacturer of flow technology, test and measurement equipment, announced Wednesday that it has submitted a tender offer to acquire all the shares of the Swedish company Aktiebolaget Custos, for $155.3 million.
Custos, a publicly traded company, has annual revenues over $105 million and manufactures industrial and marine pumps, and filters and regulators for the HVAC heating and plumbing industries.
Custos will become part of SPX's Flow Technology segment.
"The combined business will benefit from economies of scale through a combined European infrastructure, a well established sales network across the combined product portfolio, increased operating efficiencies, and combined R&D and new product programs to accelerate growth," commented Don Canterna, SPX's Flow Technology segment president.