SPX Corporation announced Wednesday that its subsidiary, The Marley Company, has acquired Patterson-Kelley for approximately $60 million.

Patterson-Kelley is a manufacturer and distributor of commercial boilers and water heaters headquartered in East Stroudsburg, Pennsylvania, and was previously owned by industrial manufacturer Harsco Corporation.

The acquisition is expected to have a minimal impact on SPX’s 2019 adjusted earnings per share, the company said in a statement. Patterson-Kelley is expected to have full-year 2019 revenue of approximately $35 million and a similar margin to SPX’s overall HVAC segment average.

SPX CEO Gene Lowe said the company is looking forward to the opportunities the acquisition will provide for employees and shareholders.

“Patterson-Kelley is an excellent fit with SPX’s HVAC Heating platform that strengthens and accelerates our strategy in high-efficiency commercial boilers, and further enhances our product development capabilities,” Lowe said.

SPX Corporation is a Charlotte-based global supplier of infrastructure equipment in heating, ventilation and air conditioning with operations in 20 countries. Shares of SPX closed at $47.76 Thursday afternoon, up 80 cents.