Plano-based Air Distribution Technologies will be acquired by Los Angeles-based Truelink Capital from Johnson Controls, Truelink announced.
Air Distribution Technologies is a market leader in air management and filtration solutions. Financial terms were not disclosed, and the transaction is expected to close in the second half of this year.
Following the deal’s completion, Air Distribution Technologies will continue to be led by its current CEO, Doug Schuster.
Schuster praised Johnson Controls’ stewardship in building and growing Air Distribution Technologies into the business it is today. He said the company is excited about what the transaction means for the business, employees, clients, and suppliers.
“As a standalone business, we expect to be more agile and customer-centric than ever before,” Schuster said. “We plan to accelerate product innovation and enhance our capabilities to continue delivering high-quality products that help our customers meet their ongoing demands.”
Schuster added that the new partnership with Truelink would “drive commercial excellence, operational enhancements, M&A initiatives, and overall long-term growth.”
Targeting tech-enabled services
With more than 4,500 employees operating across over 25 locations worldwide, Air Distribution Technologies designs and manufactures a comprehensive suite of top-performing products supporting the HVAC ecosystem. Its portfolio includes well-recognized brands such as Koch Filter, Titus, Ruskin, Krueger, PennBarry, and Tuttle & Bailey, serving a diversified customer base.
Johnson Controls acquired Air Distribution Technologies in 2014 from Canada Pension Plan Investment Board and has operated it under the Global Products business segment.
“Air Distribution Technologies has been a leading player in the commercial HVAC space for over 75 years,” said Todd Golditch, co-founder and Managing Partner of Truelink. “The company consistently delivers innovative, high-quality products to its customers, demonstrating a strong track record of excellence.”
Golditch thanked Johnson Controls for “being a great transaction partner and for entrusting us with the company.” He added that Truelink is thrilled about the acquisition and the opportunity to partner with Air Distribution Technologies’ stellar management team.
“Our goal is to expand the business and partner with leadership to make substantial commercial and operational investments to strengthen the company’s leadership position and better serve their customers,” Golditch said.
This marks the fifth acquisition for Truelink Capital, which was launched in 2022 by Golditch and Luke Myers to target companies in the industrials and tech-enabled services sectors. Truelink’s senior team brings decades of experience and well-established strategies to improve processes, fuel growth, and enhance earnings for their portfolio companies.
Get on the list.
Dallas Innovates, every day.
Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.
R E A D N E X T
-
Mobility startups from coast to coast—including those focused on innovative ideas to transport people or goods—are invited to apply. The unique accelerator program supports startups in the automotive ecosystem, ranging from AI-powered industry solutions and transportation infrastructure to dealer support and related services.
-
The Israeli company's AIR ONE "flying sportscar" holds the promise of letting people easily "drive the sky." But now the company's come out with an unmanned cargo version—and it's performing certification-oriented tasks for the launch out of AIR's "engineering microsite" in Fort Worth.
-
In 2023, founders searching for venture capital found fewer investors and less money. Pitchbook reports that the number of U.S. deals in the first three quarters of 2023 was just slightly higher than the number made during the same period in 2018. In North Texas, it was a similar story. But even as investment markets have tightened, Dallas-based Beyond Capital is working to reverse that trend by investing in more startups. In the first quarter of 2024, it’s opening its third fund to new investors. Beyond Capital looks for startups in need of Seed to Series A investment. What…
-
In a world reshaped by remote work and virtual services, do Americans still believe that owning a car is essential to getting ahead? Researchers investigated how vehicle ownership impacts upward mobility post-pandemic—from employment to social benefits.
-
The newly established Texas Capital Foundation is following the first round of grant awards by opening again for new submissions this November.
