June 20, 2005: Johnson Controls To Acquire USI Companies
MILWAUKEE - Johnson Controls Inc. has announced a definitive agreement to acquire USI Companies Inc. (USI), a corporate real estate services firm headquartered in Stamford, Conn.
Johnson Controls will pay approximately $80 million for USI, subject to adjustments. USI's offerings include strategic consulting, portfolio management, acquisition and disposition brokerage, design, and construction services, and information management solutions. Its customer portfolio is comprised of more than 30,000 properties occupying more than 300 million square feet of office, industrial, retail, and technology space, with clients such as Boeing, Computer Sciences Corp., and Toshiba America. The company, which has 260 employees, expects sales of approximately $60 million in 2005.