Sealite Announces Completion of Share Sale Agreement with SPX Corporation

Sealite Announces Completion of Share Sale Agreement with SPX Corporation

Sealite Announces Completion of Share Sale Agreement with SPX Corporation

Sealite Announces Completion of Share Sale Agreement with SPX Corporation

By:Maryanne Dutka | April 20, 2021

Sealite Pty Ltd (Sealite) is pleased to announce the company has completed a share sale agreement with SPX Corporation (SPX) (NYSE:SPXC). Under the terms of the agreement, SPX has acquired 100% of the share capital of Sealite, and affiliated entities including Avlite Systems and Star2M Pty Ltd.

Founded in 1982, Sealite is a vertically integrated provider of navigation aids to the marine and aviation sectors globally, with headquarters in Australia and operations in the United States and United Kingdom. For almost 40 years the company has pioneered innovative lighting, buoyage and telemetry solutions to improve the safety and efficiency of transportation.

Chris Procter, Chief Executive Officer of Sealite commented “We are very pleased to be part of SPX as it creates numerous opportunities for employees and customers to continue our growth journey.  Combining Sealite’s high-quality lighting products and regional strength with SPX’s extensive infrastructure and resources is a great opportunity to further advance product development and extend the reach of our combined solutions to a broader customer base.”

“We are excited to welcome Sealite to the SPX team,” said Gene Lowe, President and CEO of SPX. “This acquisition further expands and strengthens SPX’s position in engineered specialty lighting by adding another leader in the design and manufacture of ATON solutions.  We believe that Sealite’s high-value marine and airfield lighting applications and strong position in the Asia Pacific region are an excellent strategic fit with SPX’s existing portfolio of terrestrial and marine obstruction solutions, and strong position in Europe and the Americas.”

Sealite was advised on the transaction by KPMG Corporate Finance (both lead advisory and vendor due diligence) and Macpherson Kelley (legal advisor).

About Sealite:   Sealite is a privately-held company headquartered near Melbourne, Australia, with approximately 150 employees in Australia, Singapore, Colombia, the United Kingdom and the US.  The company is a technology leader in the design and manufacture of aids to navigation equipment including for marine and aviation applications.  For more information, please visit www.sealite.com and www.avlite.com.

About SPX Corporation:  SPX Corporation is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC, detection and measurement, and engineered solutions markets. Based in Charlotte, North Carolina, SPX Corporation had approximately $1.6 billion in annual revenue in 2020 and more than 4,500 employees in 15 countries. SPX Corporation is listed on the New York Stock Exchange under the ticker symbol “SPXC.”  For more information, please visit www.spx.com.

 

What Our Client's Say

On behalf of Karachi Port I am pleased to acknowledge your good service and provision of the new SL-75 solar marine lanterns installed by your firm in the harbour channel at Karachi Port. The new lanterns are very feasible and useful and equipped with the latest navigational technology.

-Captain Muhammad Altaf

[Re: Sealite SL-LED Lightsource at LaCorbiere Lighthouse], We were impressed with Sealite’s solution which provided a modern, reliable and efficient light source whilst remaining sympathetic to the lighthouse’s heritage and significance as a local landmark, but most importantly to improve upon reliability and to continue its vital role in aiding the safety of navigation in Jersey’s waters, as it has done for nearly 130 years.

-Aaron Gavey

[Re: Sealite Wins Duke’s Choice Award for Java Technology & the Environment – Sealite GSM monitoring & control system]. The team at Motorola were extremely impressed with Sealite’s innovative integration of the G24-Java wireless module in their GSM Monitoring & Alarm System.

-Golan Haver

As one of your new distributors (Belize and Honduras, Waller Marine Belize LTD), I would like to express my congratulations to you and your people in providing reliable, dependable and inexpensive products. Formerly we were distributors for a Canadian made product but these were found to be too expensive for the market and also offered only difficult and complicated programming. Our first order of lights from you (SL15’s) took only four days to arrive from Aussie Land, when I opened the box they were still flashing. I tested a SL60 (white) for four days (steady on) before it required a recharge…remarkable. I will be placing another order shortly. Keep up the good work.

-Capt Andy Suddes

[Re: Installation of WindTalker for kite-surfing club], The WindTalker™ is a big success here in Cyprus, thanks to your after sales support the unit is now functioning perfectly.

-Christophe Meletiou

We choose to sell Sealite … this is a long story, well we treat Sealite as our own and the relationship we have developed with Jeff and Chris and their attitude and commitment towards growing Sealite to this stage is remarkable. We feel at home when talking to them and the staff of Sealite and this in turn gives us more security and strength in selling products in India.

-Aliasgar E Patrawala

[Re: Sealite Solar-Powered LED Area Lighting system], We chose the Sealite system for the Jacobs Well Queuing Pontoon due to our previous experience with Sealite’s product, its durability and construction.

-Peter Taylor

I just wanted to say thank you for the light and bracket Sealite supplied to Birkenhead Marina. As the other lights (old ones) need new batteries I will be replacing them with new lights from Sealite and the same brackets that you supplied with the light we received last week … Your product is excellent and the system of setting the light is good also. Thanks again for all your trouble.

-Philip McGowen