Johnson Controls to acquire Silent-Aire, a Canadian leader in hyperscale data cooling solutions for up to US$870 million

April 9, 2021

On April 9, 2021, Johnson Controls International PLC (NYSE:JCI) (“Johnson Controls”), a global provider of smart, healthy and sustainable buildings, announced that it has entered into a definitive agreement to acquire Silent-Aire Limited Partnership (“Silent-Aire”) in an all-cash transaction valued 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. The move comes as the pandemic has moved more applications to the cloud and resulted in strong demand for computing power and the expansion of data center infrastructure.

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, and is headquartered in Edmonton, Alberta.

Miller Thomson is advising Silent-Aire on the ongoing transaction with a team led by Joseph Yurkovich (M&A/Corporate Tax), and comprising of Kevin Trumpour, Spencer Einhorn and Nizar Dahrouge (Corporate/M&A); Brendon Ho (Corporate Tax); Dan Chubb and Tyson Wagner (Transactions & Leasing); Eric Dufour and Reema Mahbubani (Competition); Tom Duke and  John Batzel (Labour & Employment); Kerra Jay (Paraprofessional); and Julia Amelio (Student).