ULC Robotics, named one of the top 50 most influential companies in the global robotics business, has been sold to SPX Corporation. ULC Robotics is a leading developer of robotic systems, machine learning applications and inspection technology for the energy, utility and industrial sectors. A pioneer in the field of Robotics-as-a-Service (RaaS), ULC operates a growing, recurring-revenue business called CISBOT which uses robotic solutions designed to rehabilitate and extend the life of natural gas distribution networks for utility customers. ULC also operates a Research & Development (“R&D”) business that is a leading provider of cutting edge technology and innovative solutions for a range of utility and industrial applications.
ULC is headquartered in Hauppauge, New York, with a significant presence in the United Kingdom. The Company will join SPX’s Location & Inspection platform within its Detection & Measurement segment. Over the last twelve months ULC Robotics has had revenue of approximately $40 million.
Based in Charlotte, North Carolina, SPX Corporation is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC, detection and measurement, and engineered solutions markets.
EC M&A acted as exclusive financial advisor to ULC Robotics on this transaction.
