Please ensure Javascript is enabled for purposes of website accessibility
Home / Commercial Construction / Johnson Controls buying air distribution business

Johnson Controls buying air distribution business

MILWAUKEE (AP) — Johnson Controls, which makes both automotive and building systems, said Wednesday that it’s buying Air Distribution Technologies from the Canada Pension Plan Investment Board for about $1.6 billion.

The Dallas-based business is one of the largest independent providers of air distribution and ventilation products in North America. Its brands include Ruskin, Titus, Hart & Cooley, Krueger and Tuttle & Bailey.

The investment board acquired Air Distribution from Tomkins in 2012 for $1.1 billion. When the deal closes, the board expects to receive proceeds of about $1 billion.

Milwaukee-based Johnson Controls said the acquisition will expand its current lineup of building heating, ventilation and air conditioning products and services. The new business will join Johnson Controls’ building efficiency platform where it will operate with its own brands, distribution channels and employees.

The deal is expected to close by the end of July.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Leave a Reply

Your email address will not be published. Required fields are marked *