Bosch, Lennox, Samsung vie for Johnson Controls HVAC assets, sources say

Bosch, Lennox, Samsung vie for Johnson Controls HVAC assets, sources say

March 23, 2024 / Riah Marton /


ROBERT Bosch GmbH, Lennox International and Samsung Electronics are among the suitors competing to acquire heating and ventilation businesses worth over US$6 billion from Johnson Controls International, people familiar with the matter said on Friday (Mar 22).

Johnson Controls has been working with its advisers to sell its residential and light commercial businesses, according to the sources, who requested anonymity as the discussions are confidential.

Those businesses include a 60 per cent stake in Johnson Controls–Hitachi Air Conditioning, an air-conditioning joint venture with Japan’s Hitachi Ltd, the sources said,

The sources said other bidders could emerge, and any deal, if one emerges at all, is still months away.

Bosch, Lennox, Samsung, and Johnson Controls did not immediately respond to requests for comment. REUTERS

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Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

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