Johnson Controls announced it has entered into a definitive agreement to acquire Silent-Aire, a global leader in hyperscale data center cooling and modular critical infrastructure solutions. This all-cash transaction is valued at up to $870 million, including an upfront payment of approximately $630 million and additional payments to be made subject to the achievement of post-closing earnout milestones.
Silent-Aire specializes in the design, engineering and manufacturing of mission critical custom air handlers and modular data centers for hyperscale cloud and colocation providers. Silent-Aire's portfolio of data center solutions allow for rapid deployment of critical infrastructure in flexible configurations, with a focus on quality, scalability, and speed-to-market.
Silent-Aire is headquartered in Edmonton, Alberta and has approximately 3,000 employees globally, with a legacy of providing mission critical data center technology, a commitment to customer-centricity, and a clear focus on sustainability. Silent-Aire's revenue for fiscal year 2021 (May) is expected to approximate $650 million.
Subject to the receipt of regulatory approval and customary closing conditions, the transaction is expected to close in the fiscal third quarter of 2021. The transaction is expected to be immediately accretive and add $0.07 to $0.09 to Johnson Controls adjusted EPS from continuing operations in fiscal 2022.