April 17, 2014: Johnson Controls to Acquire Air Distribution Technologies
Acquisition Adds a Broad Range of Air Distribution Products to Johnson Controls Portfolio
MILWAUKEE — Johnson Controls announced that it has reached a definitive agreement with the Canada Pension Plan Investment Board to acquire its Air Distribution Technologies business, one of the largest providers of air distribution and ventilation products in North America, for approximately $1.6 billion.
“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 chairman and chief executive officer. “It reflects our stated commitment to invest in the buildings business as a growth platform and further enhances our offerings and channels.”