Sealite Announces Completion of Share Sale Agreement with SPX Corporation

By:Avlite Systems | 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.

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The simplicity of the self-contained light and the option to use a PALC leaves no doubt why they chose Avlite helipad lighting.

-Jorge de Dios

It is a great benefit to our community to have this [Avlite’s helipad lighting system] installed and commissioned at CareFlight’s Toowoomba base. Avlite’s particular type of lighting lends itself to a lot of applications given that it’s easy to install, doesn’t require electricity as its solar powered and can be remotely controlled. It’s a fabulous technology, obviously a world leading technology and from my point of view, it’s great to see an Australian Manufacturing success story.

-Cr Mike Williams

For an aerodrome operator to provide equivalent night-use runway standards for the RFDS and other fixed-base users at around one-third of the cost of a traditional mains-powered runway and taxiway lighting system, there has to be greater recognised merit for this (solar-powered) alternative especially in a location like ours where it is sunny most days of the year.

-Jenny Kox

Our industry appreciates the on-going support of this Australian owned and operated company whose solar powered airfield and helipad lighting systems assist in the improvement of safety for both fixed and rotary wing aeromedical flight crews and passengers around the country.

-Graeme Field

As the busiest Helicopter Emergency Medical Service (HEMS) based in the State [of Queensland], the benefits [of Avlite’s helipad lighting] are many. Not only does it [the system] enhance the safety of our operations, it also helps us to continue to improve our level of service delivery to the community and to our customers.

-Ashley van de Velde

These lights [AV-70s] have been a great asset to many outback communities that previously we were not able to access 24/7.

-Alan Benn

Just to let you know the new airport floodlight has now been installed for several weeks and the medical staff and Power and Water staff [who look after the airport] agree it has made things much easier and safer for night-time medivacs. Your assistance with enabling us to have this basic but important infrastructure is much appreciated.

-Stephanie Fielder

Since starting our distributorship with Avlite, we have gone from strength to strength with the great range of solar products and of course the fantastic support of the Avlite staff. It’s been a good year for us. May it continue.

-Eddie Lacina

Re: Avlite AV70 taxiway lights, are working really well. Thank you for your assistance in getting our ramp up and running.

-Capt. US Air Force

[In reference to more than 2,000 AV70 taxiway lights installed] Those Taxiway lights work great, we are not having any problems with those AV70’s. Thanks a lot.

-USAF

The lights are installed and are operating beautifully.

-Strathcona Airport

[In reference to Avlite radio controlled obstruction lighting] They are really neat to watch come on, they come on instantly and are a great addition to our pilot training school. The lights are currently set on medium intensity as high intensity is very bright.

-Airport Staff

We did install all of the lights. We even used a few red lights as obstruction markers on top of 68 meter power line towers. I finally found a high quality camera and took some photos. I will send them to you as soon as I can download them. We submitted some additional light orders to our contracting office, so you can expect to receive a bit solicitation from them soon. The lights are working great and we appreciate the support.

-US ARMY

[In reference to a visit to the Avlite production facilities] On arrival at Avlite I was greeted by the Sales Manager, and was treated like a VIP. I was given a tour of the production line and had a close look, and an in-depth explanation of all the components of the Avlite system. The staff were fantastic and very helpful. It was truly fascinating and I now have a good story to tell Wanarn community members on my return. I was also shown the vast range of solar system lights and other products that they make.
I have recommended Avlite solar lighting systems to many local communities and Avlite will be my first stop shop if the community needs anything regarding solar power in the future. Well done, and thank you Avlite.

-Patricia Granger

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Sealite Announces Completion of Share Sale Agreement with SPX Corporation