Johnson Controls to Acquire Air Distribution Technologies
MILWAUKEE — Johnson Controls has reached a definitive agreement with the Canada Pension Plan Investment Board to acquire its Air Distribution Technologies business for approximately $1.6 billion. According to the release, Air Distribution Technologies is one of the strongest and largest independent providers of air distribution and ventilation products in North America.
"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 CEO. "It reflects our stated commitment to invest in the buildings business as a growth platform and further enhances our offerings and channels."