AYI - Acuity Brands to acquire KE2 Therm Solutions

2023-04-14 09:41:33 ET

• Acuity Brands ( NYSE: AYI ) has agreed to acquire refrigeration control solutions developer, KE2 Therm Solutions.
• Terms of the deal were not disclosed. 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 ( AYI ).
• Until close, the companies will continue to operate independently.
• Peter Han, President of the Intelligent Spaces Group, stated: "We are focused on increasing our addressable market for Distech Controls. 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."

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