Brookfield $13.2 billion acquisition of Johnson Controls’ Power Solutions unit
Davis Polk is advising Brookfield Business Partners L.P. on its $13.2 billion acquisition of the Power Solutions business of Johnson Controls International plc. The transaction is expected to close by June 30, 2019, subject to customary closing conditions and required regulatory approvals.
Brookfield Business Partners acquires high-quality businesses and applies its global investing and operational expertise to create value, with a focus on profitability, sustainable margins and sustainable cash flows. Johnson Controls' Power Solutions business works in partnership with its customers to meet increasing electrification requirements in vehicles. Johnson Controls is a global diversified technology and multi-industrial leader serving a wide range of customers in more than 150 countries.
The Davis Polk corporate team includes partners Leonard Kreynin and Harold Birnbaum and associates Cheryl Chan and Reid Fitzgerald. Partner Jeffrey P. Crandall is providing executive compensation advice. Partner Sartaj Gill and counsel Hilary Dengel are providing credit advice. Partners Michael Kaplan and Derek Dostal are providing capital markets advice. Partner Rachel D. Kleinberg is providing tax advice. Members of the Davis Polk team are based in the New York and Northern California offices.