On May 12, 2021, Johnson Controls International PLC (NYSE:JCI) (“Johnson Controls”), a global provider of smart, healthy and sustainable buildings, announced the completion of its acquisition of Silent-Aire Limited Partnership (“Silent-Aire”) in an all-cash transaction valued up to US$870 million [CAD$1.1 billion], including an upfront payment of approximately US$630 million [CAD$800 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 advised Silent-Aire on the transaction with a team led by Joseph Yurkovich (M&A/Corporate Tax), and comprising of Kevin Trumpour, Spencer Einhorn, Nizar Dahrouge and Nabil Virji (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 and Katherina Doerksen (Paraprofessional); and Julia Amelio (Student).
