Three Indiana plants part of Contech acquisition

SPX Corp. of Charlotte, N.C., has sold its Contech Inc. division to Marathon Asset Management LLC, a New York private equity firm, for $146 million.

Contech, which is headquartered in Portage, Mich., has one plant each at Pierceton and Auburn near Fort Wayne and another at Mishawaka.

SPX said the manufacturer of aluminum auto parts doesn’t fit its focus on products for flow control, testing and thermal equipment.