The acquisition marks the third for ACS, demonstrating the company's aggressive pursuit of opportunities to address the unique HVAC needs of mission-critical applications.
“The acquisition of Water Tec further expands our West Coast presence and supports our growth strategy,” said Kevin J. Wheeler, A.O. Smith president and CEO.
Financing comes in connection with private investment firm Ardian's recent acquisition of a majority stake in the supplier of design-assist engineering and manufacturers' representation services.
Executives said the move will increase Johnson Controls' growth in net zero building technologies globally, while strengthening long-term relationships with existing customers and creating new opportunities to meet demand in the fast-growing smart building segment.