Acuity acquired Distech Controls Inc. for approximately CA$318 million (Canadian dollars), a transaction announced in March 2015, structured as all cash.
Distech Controls Inc. operates in Intelligent Spaces / building management, is based in Quebec, Canada (near Montreal), had revenue of about in excess of CA$70 million (calendar 2014). Acuity agreed to acquire Distech Controls, a Quebec-based provider of building-automation and energy-management systems that integrate lighting, HVAC, access control, closed-circuit television and related building systems. Announced March 9, 2015, the all-cash deal was valued at about CA$318 million (Canadian dollars). Distech generated more than CA$70 million in net sales in calendar 2014, and the acquisition extended Acuity's push into integrated smart-building controls alongside its lighting portfolio. Closing was expected within four to eight weeks, subject to Distech shareholder and other customary approvals.
Distech advanced Acuity's strategy of end-to-end building optimization, coupling its lighting and control systems with a building-management portfolio as lighting and building systems converge into a single digital ecosystem.
convergence of lighting and building systems into a single digital ecosystem, smart-building and smart-city growth Distech Controls (building management)
The acquisition of Distech Controls, coupled with our broad, industry-leading solid-state lighting portfolio, innovative control technologies and integrated digital solutions, is part of our strategy to offer true end-to-end optimization of all aspects of the building for enhanced occupant experience, quality visual environment, seamless operation, energy efficiency, operational cost reductions, and increased digital functionality.Vernon J. Nagel, Chairman, President and Chief Executive Officer, Acuity Brands
Advisory firms were not disclosed for this transaction.