Deals
Johnson Controls Kicks Off $2 Billion Sale of ADT Alarms
- Citi is helping Johnson Controls to identify potential buyers
- Advent, Bain, CVC and Triton among PE firms studying the asset
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Johnson Controls International Plc is kicking off the sale process of its ADT alarms business, which could be worth about $2 billion in a deal, according to people familiar with the matter.
The company is working with Citigroup Inc. to gauge interest from potential buyers of the unit, said the people, who asked not to be identified as the information is private. Advent International, Bain Capital, CVC Capital Partners Plc and Triton are among the buyout firms that are studying the asset, the people said.