Johnson Controls and Truelink Capital Management Close Transaction to Establish Air Distribution Technologies as Independent Business

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Aug 01, 2024, 13:00 ET

LOS ANGELES and PLANO, Texas, Aug. 1, 2024 /PRNewswire/ -- Truelink Capital today announced that it has closed the transaction to acquire Air Distribution Technologies, a market leader in the air management and filtration solutions space, from Johnson Controls. Financial terms were not disclosed.

Air Distribution Technologies, with its robust market presence, will now operate as an independent company. Doug Schuster, the current leader of the division, will continue to lead the company.

"This strategic move is a monumental step for our company," said Doug Schuster. "Operating independently under Truelink's ownership empowers us to innovate and excel in the air distribution, filtration and movement markets. We are deeply thankful for the support from Johnson Controls during the transition period, and we are enthusiastic about the journey ahead."

With over 4,500 employees across more than 25 global locations, Air Distribution Technologies is a key player in the HVAC ecosystem, boasting well-known brands such as Koch Filter, Titus, Ruskin, Krueger, PennBarry, and Tuttle & Bailey. The company was acquired by Johnson Controls in 2014.

"Truelink is committed to bolstering Air Distribution Technologies' position as an industry leader and continuing its heritage of success," said Todd Golditch, Co-Founder and Managing Partner of Truelink. "We are excited to partner with Doug and his leadership team to make strategic investments that will drive growth and innovation. We strongly believe in the business, its employees and partners and are thrilled to collaborate to help the business reach its potential."

This transaction marks the fifth acquisition for Truelink Capital, launched in 2022 by Todd Golditch and Luke Myers.

Jefferies LLC and William Blair & Company served as financial advisors to Truelink for the transaction.

ABOUT TRUELINK CAPITAL
Truelink Capital is a middle-market private equity firm based in Los Angeles. Truelink pairs deep industry experience in the industrials and technology-enabled services 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.

ABOUT AIR DISTRIBUTION TECHNOLOGIES
Air Distribution Technologies is an industry leader in the design and manufacture of a comprehensive suite of top performing products supporting the HVAC ecosystem. Its portfolio contains many well-recognized brands in the space serving a diversified customer base. The company was acquired by Johnson Controls in 2014.

Media Contacts:

Truelink Capital
Peter Schultz
[email protected]

SOURCE Truelink Capital