Johnson Controls selling HVAC business to Bosch

WICHITA, Kan. (KSNW) – Johnson Controls announced on Tuesday that the company is selling its Residential and Light Commercial HVAC and Hitachi’s residential ventilation business to the Bosch Group. The total deal is valued at $8.1 billion.

Bosch says the deal includes 16 manufacturing sites and 12 engineering locations in more than 30 countries. The product portfolio includes well-known brands such as York and Coleman in the U.S. and Hitachi in Asia, for which Bosch will be granted a long-term license.

“Our leading residential and light commercial business and its world-class team perfectly complement the Bosch portfolio. We are confident that under Bosch’s leadership the business will continue to excel and deliver innovative products and service to its customers. We look forward to seeing their continued success,” George Oliver, CEO of Johnson Controls, said.

“Johnson Controls’ Residential & Light Commercial business has a consistent track record of excellence within the HVAC industry. Together with our future colleagues in the acquired business, we want to seize the huge opportunities offered by the market for the further growth of this new unit. The acquired entities will strengthen Bosch’s Home Comfort Group in an extremely attractive segment and will become part of the Bosch core business,” Christian Fischer, the deputy chairman of the Board of Management of Robert Bosch GmbH, said.

Bosch says the sale is expected to be closed in approximately 12 months.

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