Atlanta-based Acuity Brands, Inc. has announced a definitive agreement to acquire KE2 Therm Solutions, Inc., which develops and provides intelligent refrigeration control solutions that improve profitability by increasing system efficiency and decreasing operational and service costs.
The transaction is expected to close during the spring of 2023 when KE2 Therm will begin integrating into Distech Controls within the Intelligent Spaces Group business segment of Acuity.
“We are focused on increasing our addressable market for Distech Controls,” said Peter Han, President of the Intelligent Spaces Group. “In recent months, we have expanded our presence in new regions and now, with the acquisition of KE2 Therm, we will expand into the commercial refrigeration controls market as it transitions from analog to digital controls. KE2 Therm’s controls and software will help us lead this transition, and we are excited to welcome the talented team to Acuity.”
“By combining Distech Controls’ market-leading controls, sensors, and software with KE2 Therm’s refrigeration solutions, we will improve our customer access and unlock new market opportunities,” said Patrick Holdmeyer, President of KE2 Therm. “We share the same values and focus on product innovation and superior technical support. We are thrilled to join Acuity.”
The transaction is subject to the satisfaction of certain customary closing conditions. Until close, the companies will continue to operate independently.