JCI to Acquire Air Distribution Technologies for $1.6 Billion
Milwaukee-based Johnson Controls has agreed to acquire Air Distribution Technologies from the Canada Pension Plan Investment Board 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.”