Johnson Controls weighs sale of ADT alarms unit, sources say
03/05/2024 12:38
By Amy-Jo Crowley, Andres Gonzalez and Anousha Sakoui
LONDON, May 3 (Reuters) - Johnson Controls International
JCI.N is considering the sale of its ADT alarms business as it
offloads some non-core businesses, three people familiar with
the matter told Reuters.
The unit of the New York-listed building manufacturer
operates in Europe and Latin America and has already drawn
interest from private equity funds, said the people, who spoke
on condition of anonymity.
The preparations are at an early stage and a sale process
could happen towards the end of the year, one of the people
said.
The alarms unit could fetch a valuation of less than $1
billion in the event of a sale, the person said. Johnson
Controls does not break down financials for the unit.
"We constantly evaluate ways to improve our business and
serve our customers better; however, we don't comment on rumor
or market speculation," a spokesperson for Johnson Control told
Reuters.
(Reporting by Andres Gonzalez, Amy-Jo Crowley and Anousha
Sakoui; Editing by Emelia Sithole-Matarise)
((andres.gonzalez@thomsonreuters.com))