Charlotte NC-based SPX Corp.’s subsidiary, The Marley Co., recently purchased Harsco’s Patterson-Kelley, a manufacturer and distributor of commercial boilers and water heaters. The strategic acquisition will broaden SPX’s HVAC platform in the high-efficiency boiler segment of the heating market.
Headquartered in East Stroudsburg PA., Patterson-Kelley has approximately 100 employees. With more than 100 years in the industry, it is expected to have full-year 2019 revenue of approximately $35 million.
Patterson-Kelley will operate as a subsidiary of SPX, and a part of the broader SPX HVAC platform, which consists of products from Weil-McLain, Marley Engineered Products, SPX Cooling Technologies.
“Patterson-Kelley’s strong brand, technology and high-quality line of commercial boilers and water heaters are the perfect complement to SPX’s HVAC heating platform and Weil-McLain’s existing portfolio of commercial and residential boilers,” said John Swann, president of SPX’s HVAC Heating and Location, Inspection groups.
“This acquisition broadens SPX’s high efficiency product offering and significantly strengthens our market coverage and application support capabilities,” he added. “We are committed to meeting the evolving needs of our customers with ongoing investment and innovation. The addition of P-K to the SPX family reflects our strategic goals of providing technology leadership, application expertise and outstanding service to increase the value we deliver to the market. We are very excited about our future.”