Truelink Capital Signs Deal to Acquire Air Distribution Technologies from Johnson Controls

Core Viewpoint - Truelink Capital has announced a definitive agreement to acquire Air Distribution Technologies from Johnson Controls, with the transaction expected to close in the second half of 2024, subject to customary closing conditions [1]. Company Overview - Air Distribution Technologies employs over 4,500 people and operates in more than 25 locations globally, specializing in the design and manufacture of products for the HVAC ecosystem [2]. - The company has a portfolio of well-recognized brands, including Koch Filter, Titus, Ruskin, Krueger, PennBarry, and Tuttle & Bailey, serving a diversified customer base [2]. Management and Future Plans - Todd Golditch, Co-Founder and Managing Partner of Truelink, expressed enthusiasm about the acquisition and plans to partner with the existing management team to expand the business and enhance operational capabilities [3]. - Doug Schuster will continue to lead Air Distribution Technologies as CEO post-transaction, emphasizing the company's commitment to agility and customer-centricity [4]. Strategic Intent - Truelink Capital aims to drive commercial excellence, operational enhancements, and long-term growth through strategic initiatives and potential M&A activities [4]. - This acquisition marks Truelink's fifth since its establishment in 2022, focusing on companies in the industrials and tech-enabled services sectors [4]. Company Background - Truelink Capital is a middle-market private equity firm based in Los Angeles, dedicated to building partnerships that drive long-term value through operational strategies [5].