Johnson Controls to sell Air Distribution Technologies business to private equity firm

Johnson Controls has reached a definitive agreement to sell its Air Distribution Technologies business to Truelink Capital, a middle-market private equity firm based in Los Angeles.

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With over 4,500 employees operating across more than 25 locations globally, Air Distribution Technologies designs and manufactures a suite of products supporting the HVAC ecosystem.

Included in the sale are air distribution and movement brands Koch Filter, Titus, Ruskin, Kreuger, PennBarry and Tuttle & Bailey and their product lines of grilles, registers and diffusers, terminal units, fire and smoke dampers, louvers, filters and fans. Air Distribution Technologies products are manufactured in the United States, Mexico, India, Thailand and the United Arab Emirates in facilities that will transfer to Truelink as part of the transaction. The Johnson Controls and Enviro-Tec brands are not included in the transaction.

"The sale of our Air Distribution Technologies business is the next step as we continue to simplify our portfolio and advance our transformation into a comprehensive solutions provider for commercial buildings," said Johnson Controls chairman and CEO George Oliver.

“Air Distribution Technologies has been a leading player in the commercial HVAC space for over 75 years, and has consistently delivered innovative, high-quality products to its customers, demonstrating a strong track record of excellence,” said Truelink’s co-founder and managing partner Todd Golditch. “Our objective will be to expand the business through partnership with management in driving substantial commercial and operational improvements to strengthen Air Distribution Technology's market-leading position and better serve their customers.”

Post-transaction, Air Distribution Technologies will continue to be led by its existing leader, Doug Schuster, as chief executive officer.

The transaction is expected to close the second half of calendar year 2024 and is subject to customary closing conditions.