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
pschultz@truelinkcap.com
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SOURCE Truelink Capital