Johnson Controls acquiring Air Distribution Tech for $1.6 billion
April 17, 2014 - Johnson Controls says it has reached a definitive agreement with the Canada Pension Plan Investment Board to acquire its Air Distribution Technologies business—a provider of air distribution and ventilation products—for about $1.6 billion.
April 18, 2014 By Anthony Capkun
Air produces a range of distribution products under brands such as Ruskin, Titus, Hart & Cooley, Krueger, PennBarry, Tuttle & Bailey and others that are delivered through independent distribution channels. Specific product lines include grilles, registers, and diffusers (GRDs); terminal units; fire and smoke dampers and fans.
“This investment expands Johnson Controls’ position in the buildings space with additional products that are complementary to our existing heating, ventilation and air-conditioning offerings,” said Alex Molinaroli, Johnson Controls chair and CEO. “It reflects our stated commitment to invest in the buildings business as a growth platform, and further enhances our offerings and channels.”
Within the Johnson Controls portfolio, Air will be aligned under the Building Efficiency platform where it will operate with its own brands, distribution channels and employees. The combination of the two companies will be jointly guided by Johnson Controls and Air leadership.
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