Johnson Controls’ Acquisition of Silent-Aire Manufacturing

Cleary Gottlieb Steen & Hamilton LLP represented Johnson Controls in the transaction.

Johnson Controls executed its acquisition of Silent-Aire in an all cash transaction valued at 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 transaction, which was announced on April 9, 2021, is expected to close in the fiscal third quarter of 2021, subject to regulatory approvals and other customary closing conditions.

Silent-Aire specializes in the design, engineering and manufacturing of mission critical computer room and custom air handlers and modular data centers for hyperscale and colocation providers.

Johnson Controls is the global leader for smart, healthy and sustainable buildings, with a global team of 100,000 experts in more than 150 countries and over 130 years of innovation.

The Cleary M&A team advising Johnson Controls included partners Glenn McGrory (Picture) and Kim Spoerri and associates Isa Julson Barahona and Kate Ginsbern, with early assistance from associates Paul Imperatore and Teddy Nimetz. Partner Brian Byrne and associate Garrett Shinn are advising on antitrust matters. Partner Corey Goodman and associate Anthony Yanez advised on tax matters. Partner Audry Casusol and associate Suzannah Golick advised on employee benefits matters. Partner Daniel Ilan and associate Nico Weisman advised on intellectual property matters. Partner Joseph Lanzkron and associate Kelsey Hogan advised on real estate matters. Counsel Rick Bidstrup and Beau Sterling and associate Madison Bush advised on environmental matters. Senior attorney Jim Corsiglia advised on anticorruption compliance. Partner Paul Marquardt and counsel Chase Kaniecki advised on CFIUS matters. 

Involved fees earner: Rick Bidstrup – Cleary Gottlieb Steen & Hamilton; Madison Bush – Cleary Gottlieb Steen & Hamilton; Brian Byrne – Cleary Gottlieb Steen & Hamilton; Audry Casusol – Cleary Gottlieb Steen & Hamilton; James Corsiglia – Cleary Gottlieb Steen & Hamilton; Kate Ginsbern – Cleary Gottlieb Steen & Hamilton; Suzannah Golick – Cleary Gottlieb Steen & Hamilton; Corey Goodman – Cleary Gottlieb Steen & Hamilton; Kelsey Hogan – Cleary Gottlieb Steen & Hamilton; Daniel Ilan – Cleary Gottlieb Steen & Hamilton; Paul Imperatore – Cleary Gottlieb Steen & Hamilton; Isa Julson Barahona – Cleary Gottlieb Steen & Hamilton; Chase Kaniecki – Cleary Gottlieb Steen & Hamilton; Joseph Lanzkron – Cleary Gottlieb Steen & Hamilton; Paul Marquardt – Cleary Gottlieb Steen & Hamilton; Glenn McGrory – Cleary Gottlieb Steen & Hamilton; Edward Nimetz – Cleary Gottlieb Steen & Hamilton; Garrett Shinn – Cleary Gottlieb Steen & Hamilton; Kimberly Spoerri – Cleary Gottlieb Steen & Hamilton; Beau Sterling – Cleary Gottlieb Steen & Hamilton; Nicholas Weisman – Cleary Gottlieb Steen & Hamilton; Anthony Yanez – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: Johnson Controls;

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Author: Martina Bellini