Johnson Controls Acquires FM:Systems

Cleary Gottlieb represented Johnson Controls in its acquisition of FM:Systems in a transaction with a $455 million base purchase price, plus additional payments to be made subject to the achievement of post-closing earnout milestones.

FM:Systems is a leading digital workplace management and Internet of Things (IoT) solutions provider for facilities and real estate professionals. FM:Systems, headquartered in Raleigh, North Carolina, and owned by Accel-KKR, has more than 200 employees and 1,200 customers, representing more than 2.4 million users across 80 countries.

Johnson Controls is the global leader in smart, healthy, and sustainable buildings, with a mission to reimagine the performance of buildings to serve people, places and the planet. Building on a proud history of nearly 140 years of innovation, Johnson Controls delivers the blueprint of the future for industries such as health care, schools, data centers, airports, stadiums, manufacturing, and beyond through OpenBlue, its comprehensive digital offering. With a global team of 100,000 experts in more than 150 countries, Johnson Controls offers the world’s largest portfolio of building technology and software as well as service solutions from some of the most trusted names in the industry.

For more information, please see the press release here.