Johnson Controls sells air distribution business
18th June 2024
USA: Johnson Controls is to sell its Air Distribution Technologies business to Truelink Capital, a US middle-market private equity firm.
Included in the sale are air distribution and movement brands Koch Filter, Titus, Ruskin, Kreuger, PennBarry and Tuttle & Bailey and their product lines of grilles, registers and diffusers, terminal units, fire and smoke dampers, louvres, filters and fans.
The sale follows news earlier this year that Johnson Controls was exploring the sale of its HVAC businesses to concentrate on its OpenBlue suite of connected AI smart building solutions and services.
Air Distribution Technologies products are manufactured in the USA, Mexico, India, Thailand and the United Arab Emirates in facilities that will transfer to Truelink as part of the transaction. The Johnson Controls and Enviro-Tec brands are not included in the transaction.
“The sale of our Air Distribution Technologies business is the next step as we continue to simplify our portfolio and advance our transformation into a comprehensive solutions provider for commercial buildings,” said Johnson Controls chairman and CEO George Oliver. “This transaction is consistent with our strategy to focus our resources on our most attractive opportunities for value creation.”
The transaction is expected to close in the second half of this year.
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IRELAND: Robert Bosch, Lennox International and Samsung Electronics are rumoured to be amongst a number of industrial businesses interested in acquiring Johnson Controls’ HVAC assets. Read more…
Johnson Controls to sell HVAC businesses? – 27 January 2024
IRELAND: Johnson Controls is rumoured to be exploring the sale of its HVAC businesses, which could include York International, Air Distribution Technologies and its stake in its Hitachi joint venture. Read more…
