Johnson Controls considers $5 billion HVAC sale
January 29, 2024

Johnson Controls CEO George Oliver
Johnson Controls is considering selling a portfolio of HVAC assets in a deal that could be worth up to $5 billion, Bloomberg reported.
Details: The company is working with advisors to gauge buyer interest in its residential-light commercial assets, which include York.
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Johnson Controls bought York in 2005 for $3.2 billion, when it was considered the world’s largest independent HVAC manufacturer.
“Deliberations are ongoing and there’s no certainty they’ll lead to any transactions,” the report said.
💭 What we’re pondering: If a deal goes through, how would pricing, availability, and support for York products be affected?
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And, what other ripple effects would there be?
Looking ahead: CEO George Oliver confirmed the company’s intentions on its Q4 earnings call yesterday, saying, “As part of the continuous evaluation of our portfolio, we are in the early stages of pursuing strategic alternatives of our non-commercial product lines in line with our objective to maximize value for our shareholders.”
This article was updated on January 31st to include up-to-date information.
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