Johnson Controls has announced plans to sell its Air Distribution Technologies business, which it acquired in 2014 for $1.6 billion, for an undisclosed amount to Los Angeles private equity firm Truelink Capital. The transaction is expected to close in the second half of 2024 and marks another step in a broad transformation of the pure-play smart building major. “The pending sale is the next step as we continue to simplify our portfolio and advance our transformation into a comprehensive solutions provider for commercial buildings,” said JCI chairman and CEO, George Oliver, last week. “This transaction is consistent with our strategy to focus our resources on our most attractive opportunities for value creation”. Johnson Controls Air Distribution & HVAC Business Headquartered in Ireland, Johnson Controls is a well-established smart buildings player, serving a wide range of customers in more than 150 countries. Following acquisitions of York, Air Distribution Technologies, Tyco, and others, JCI holds a significant […]