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A middle-market PE firm will acquire and expand air management and filtration solutions manufacturer Air Distribution Technologies.
Author
- MDM Staff
Date
- June 18, 2024
- TypeNews
Middle-market private equity firm Truelink Capital, which focuses on industrial sectors, will acquire air management and filtration solutions manufacturer Air Distribution Technologies from Johnson Controls. Financial terms of the deal were not disclosed.
Truelink Capital’s goal is to expand Air Distribution Technologies’ business, which currently includes over 4,500 employees operating across more than 25 locations globally. Air Distribution Technologies manufactures a suite of products supporting the HVAC ecosystem and its portfolio contains brands such as Koch Filter, Titus, Ruskin, Krueger, PennBarry and Tuttle & Bailey.
Truelink Capital officials said they willpartner with leadership to make “substantial commercial and operational investments” to strengthen its leadership position and better serve their customers. Post-transaction, Air Distribution Technologies will continue to be led by its existing leader,Doug Schuster, as CEO.
“As a standalone business, we expect the business will be more agile and customer-centric than ever before,” Schuster said. “We plan to accelerate our product innovation and enhance our capabilities to continue delivering high-quality products that help our customers meet their ongoing demands. In addition, we couldn’t be more excited to partner with Truelink Capital to drive commercial excellence, operational enhancements, M&A initiatives, and overall long-term growth in our business.”
The transaction is expected to close the second half of 2024 and is subject to customary closing conditions.
Air Distribution Technologies has operated under the Global Products business segment of Johnson Controls since 2014.
This transaction marks the fifth acquisition for Truelink Capital, which was launched in 2022 by Todd Golditch and Luke Myers to target companies in the industrials and tech-enabled services sectors.
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