Acuity Brands To Acquire KE2 Therm, Strengthening the Intelligent Spaces Portfolio

April 26, 2023

Acquisition extends Distech Controls’ addressable market into commercial refrigeration

Acuity Brands announced a definitive agreement to acquire KE2 Therm Solutions, which develops and provides intelligent refrigeration control solutions that improve profitability by increasing system efficiency and decreasing operational and service costs.

The transaction is expected to close during the spring of 2023 when the company will begin integrating into Distech Controls within the Intelligent Spaces Group business segment of Acuity.

Quotes from KE2 and Intelligent Spaces Group

“We are focused on increasing our addressable market for Distech Controls,” said Peter Han, President of the Intelligent Spaces Group. “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. KE2 Therm’s controls and software will help us lead this transition, and we are excited to welcome the talented team to Acuity.”

Peter Han, President of the Intelligent Spaces Group

“By combining Distech Controls’ market-leading controls, sensors, and software with KE2 Therm’s refrigeration solutions, we will improve our customer access and unlock new market opportunities,” said President Patrick Holdmeyer, “We share the same values and focus on product innovation and superior technical support. We are thrilled to join Acuity.”

Patrick Holdmeyer, President of KE2 Therm

The transaction is subject to the satisfaction of certain customary closing conditions. Until close, the companies will continue to operate independently. 

Source

Related Story

Acuity Brands Fiscal 2022 Fourth-Quarter And Full-Year Results

Acuity Brands, Inc. recently announced net sales of $1.11 billion for the fiscal fourth quarter ended August 31, 2022, an increase of 11.8 percent, or $117.6 million compared to the same period in 2021. Diluted earnings per share (“EPS”) was $3.48 in the fourth quarter of fiscal 2022, an increase of 27.9 percent, or $0.76, as compared to the prior year.

Related Articles


Changing Scene

  • Rexel Announces Changes to Group Executive Committee

    Rexel Announces Changes to Group Executive Committee

    December 1, 2023 Rexel today announced the appointment of Roger Little as Chief Executive Officer (CEO) for the USA and leader of the USA-Canada cluster, effective December 18, 2023. Roger Little has been CEO of Rexel Canada since March 2014 and will succeed Brad Paulsen as CEO of Rexel USA as Mr. Paulsen leaves the… Read More…

  • Hammond Power Solutions Declares Quarterly Dividend

    Hammond Power Solutions Declares Quarterly Dividend

    The Board of Directors of Hammond Power Solutions Inc. declared a quarterly cash dividend of fifteen cents ($0.15) per Class A Subordinate Voting Share of HPS and a quarterly cash dividend of fifteen cents ($0.15) per Class B Common Share of HPS payable on December 15, 2023, to shareholders of record at the close of… Read More…


Peers & Profiles

  • Taken from Graybar Canada Linkedin Post Enjoy a glimpse of the wonderful moments from Graybar Canada’s recent customer appreciation BBQs! The company was grateful for the smiles and connections made with our amazing customers and vendors. They are looking forward to the next gathering! Source Read More…

  • Article taken from Linkedin Post Electrozad is thrilled to spotlight their Chatham Branch and recognize their exceptional efforts in cleaning up their community. The team took time to coordinate a community clean-up around their branch. This is a commendable initiative that not only helps maintain the cleanliness and hygiene around the branch but also contributes… Read More…