The Technology team advised Specifx on the acquisition by XOi, a leading provider of jobsite-focused technology solutions for the field service ecosystem. The acquisition of Specifx will enable XOi to amplify its use and capabilities across the field service industries, furthering its mission of serving stakeholders throughout the ecosystem, including technicians, field service providers, distributors, and OEMs. Prior to this acquisition Specifx helped expand XOi’s groundbreaking Insights product, which provides unique asset origination, performance, and diagnostics information. Now, the combined resources and capabilities of the two companies empower XOi to deliver a unified framework of proprietary and operational data to fuel faster and more meaningful innovation to the mechanical, electrical, and plumbing industries.
Specifx, an industry leader in data management for HVAC companies, specializes in on-demand data enrichment and metadata retrieval for HVAC companies. The company’s flagship product, Decoder, gives technicians, HVAC providers and manufacturers access to complete HVAC metadata via a simple nameplate scan, and the tool gives users the flexibility to scan each unit individually, in batches, or via the Decoder API. Specifx’s database covers the most common HVAC equipment made by around 100 major manufacturers over the past 30+ years. Specifx’s mission is to transform the HVAC data acquisition and solutioning experience for owners, occupiers, investors and service providers, reducing the effort to acquire essential information for day-to-day operations while supporting strategic, enterprise-scale investment and decarbonization initiatives.
Specifx is a client of Andrew Sparks. The Goodwin team was led by Jean Lee and Andrew Schipper (M&A), Andrew Sparks, Chris Garcia, Andre Coronado and Christine Tran (Corporate); Ora Grinberg and Garrett Gaughan (Tax); Jia Jia Huang, Brittany Fayette, Patrick Park, and Michelle Wong (IPTS); Jacqueline Klosek (Privacy); Ai Tajima (Insurance); Cisco Palao-Ricketts and Benjamin Kurrass (ERISA and Executive Compensation); Meg Thering, Nina Ngo and Lauren NuDelman (Labor & Employment); Scott Zilora and Allison Goldsher (Financial Analysis) with invaluable assistance from Cristina Provencio (Paralegal).
For more information on the deal, please read the press release.