Johnson Controls prepares to acquire York International

Johnson Controls is to acquire York International for a sum of about $3.2 billion. The expertise of Johnson Controls includes controls and building-management systems. York International is a global supplier of heating, ventilating, air-conditioning and refrigeration equipment and services. York, with estimated sales of nearly $5 billion, will become part of the Controls Group of Johnson Controls. The combination of the Controls Group and York is expected to increase Johnson Controls’ rate of growth in the $200 billion industry for global building environments. The combination of York, a leader in manufacturing and servicing heating and cooling equipment, with Johnson Controls, industry leader in the technologies which control that equipment, is seen as a natural and strategic opportunity. As a result of the combination, Johnson Controls will: • design and sell integrated controls and HVAC&R equipment; • become the largest global provider to the high-margin building-services market’; • capitalise on significant opportunities to supply products and services to each other’s customers.