Johnson Controls Signs Agreement to Acquire Alloy Enterprises

Johnson Controls Acquires Silent-Aire

April 9, 2021

Manufacturing

Johnson Controls has agreed to acquire Silent-Aire, a global provider of hyperscale data center cooling equipment and modular data center solutions, in an all-cash transaction valued at up to $870 million (approximately $630 million upfront plus earnouts). The acquisition, expected to close subject to regulatory approvals, expands Johnson Controls' capabilities and presence in the hyperscale data center vertical and is expected to be immediately accretive to adjusted EPS in fiscal 2022.

Johnson Controls Acquires Tempered Networks

June 23, 2022

Cybersecurity

Johnson Controls acquired Seattle-based Tempered Networks to integrate its Airwall zero-trust cybersecurity platform into Johnson Controls’ OpenBlue smart‑buildings stack. The deal strengthens Johnson Controls’ ability to provide end‑to‑end zero trust security for connected building systems and to embed Tempered’s technology across its products and services; financial terms were not disclosed.

Blackstone Energy Transition Partners Agrees to Acquire Majority Stake in Advanced Cooling Technologies

March 11, 2026

Industrial Services

Funds managed by Blackstone Energy Transition Partners have entered into a definitive agreement to acquire a majority stake in Advanced Cooling Technologies (ACT), a U.S. manufacturer of thermal management and energy efficiency solutions. The transaction is expected to close in Q2 2026, subject to customary conditions, with ACT’s executive team remaining in place and continuing as significant shareholders.

Honeywell to Acquire Johnson Matthey's Catalyst Technologies Business

May 22, 2025

Industrial Services

Honeywell agreed to acquire Johnson Matthey’s Catalyst Technologies business segment in an all-cash deal, originally valued at £1.8 billion and later amended to £1.325 billion. The acquisition is expected to close by the end of August 2026 (subject to regulatory approvals) and is intended to strengthen Honeywell UOP and expand its catalyst and renewable fuels capabilities.

Mission Critical Group (backed by Emerald Lake Capital) Acquires Johnson Thermal Systems

August 10, 2023

Manufacturing

Mission Critical Group (MCG), a newly formed electrical equipment solutions platform backed by Emerald Lake Capital Management, has acquired Johnson Thermal Systems (JTS), a family-owned designer and manufacturer of custom power packaging and industrial cooling solutions based in Caldwell, Idaho. JTS will operate as part of the MCG platform to expand product and service capabilities supporting mission-critical power and cooling needs across data centers and other industrial end markets.

Reliance Steel & Aluminum Co. Acquires American Alloy Steel, Inc.

February 14, 2024

Industrial Services

Reliance Steel & Aluminum Co. has entered into a definitive agreement to acquire all outstanding equity interests and related real estate assets of American Alloy Steel, Inc., a Houston-based distributor and fabricator of specialty carbon and alloy steel plate and round bar. The acquisition adds specialty plate and new fabrication/value-added processing capabilities to Reliance's portfolio; American Alloy reported approximately $310 million in sales for the 12 months ended Dec. 31, 2023.