Deal Details

ADTI Is Acquired by Truelink

Industrial

Johnson Controls sale of ADTI to Truelink

Summary

Johnson Controls International plc (“Johnson Controls”) (NYSE: JCI) announced it has reached a definitive agreement to sell Air Distribution Technologies, Inc. (“ADTI” or the “Company”) to Truelink Capital (“Truelink”). The transaction is expected to close in the second half of 2024 and is subject to customary closing conditions and regulatory approvals. Terms of the transaction were not disclosed.

Baird served as the exclusive financial advisor to Johnson Controls on this transaction.

About

Johnson Controls transforms the environments where people live, work, learn and play. As the global leader in smart, healthy and sustainable buildings, Johnson Controls’ mission is to reimagine the performance of buildings to serve people, places and the planet. Building on a proud history of nearly 140 years of innovation, Johnson Controls delivers the blueprint of the future for industries such as healthcare, schools, data centers, airports, stadiums, manufacturing and beyond through OpenBlue, Johnson Controls’ comprehensive digital offering. Today, with a global team of 100,000 experts in more than 150 countries, Johnson Controls offers the world`s largest portfolio of building technology and software as well as service solutions from some of the most trusted names in the industry. Johnson Controls is headquartered in Cork, Ireland.

ADTI is a market leader in air distribution and movement, including brands such as Titus, Ruskin, Krueger, PennBarry, Tuttle & Bailey and Koch Filter. The Company’s product line includes grilles, registers and diffusers, terminal units, fire and smoke dampers, louvers, filters and fans. ADTI's 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. ADTI is headquartered in Plano, Texas.

Truelink is a middle-market private equity firm that pairs deep industry experience in the technology-enabled services and industrials sectors with a commitment to building partnerships that drive long-term value through an operationally focused strategy. Truelink partners with management, corporate sellers and founders to accelerate growth through the execution of strategic initiatives and transformative add-on acquisitions. Trulink is headquartered in Los Angeles, California.

Industrial

Johnson Controls sale of ADTI to Truelink