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Manufacturing


ACUITY BRANDS TO BUY REFRIGERATION MANUFACTURER KE2 THERM SOLUTIONS

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Enlarge

KE2 Therm Solutions develops refrigeration controls and temperature monitoring
technology.

FG Trade | Getty Images


IN THIS ARTICLE

 * Technology Industry
 * Mergers and Acquisitions Topic
 * Patrick Holdmeyer Person
 * Peter Han Person
   
   
   
   
   


 * 




By Diana Barr
 –  Associate Editor, St. Louis Business Journal
Apr 18, 2023

Preview this article     3 min

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KE2 Therm Solutions Inc., a manufacturer of refrigeration controls and
temperature monitoring technology, is being acquired by an Atlanta-based public
company.

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Industrial technology company Acuity Brands Inc. (NYSE: AYI) is buying a
Missouri-based manufacturer of refrigeration controls and temperature monitoring
technology.

The Atlanta public company said it has agreed to acquire KE2 Therm Solutions
Inc. in a deal expected to close this spring. Terms of the transaction,
announced last week, weren't disclosed.

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KE2 Therm currently is owned by President Patrick Holdmeyer and a group of early
founding employees and investors, according to an Acuity spokeswoman. The
current owners will not retain a stake in the company after the sale, officials
said.


Enlarge

Patrick Holdmeyer

KE2 Therm Solutions

KE2 Therm has 28 total employees, of whom 24 are based at its Washington,
Missouri, headquarters. Acuity intends to retain all the workers, officials
said.

With completion of the deal, KE2 Therm will begin integrating into Distech
Controls in Acuity's Intelligent Spaces Group business unit, officials said.
Distech Controls is a developer and manufacturer of building and HVAC automation
software and control hardware.

“The KE2 Therm integration with Distech Controls together provides a complete,
energy-saving product offering for its customers," Holdmeyer said in a statement
provided to the St. Louis Business Journal.  "KE2 Therm employees will be
welcomed into an environment where the best people can come to do their best
work."

“We are focused on increasing our addressable market for Distech Controls,”
Peter Han, president of Acuity's Intelligent Spaces Group, said in a press
release. “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.”

Acuity Brands is a market-leading industrial technology company.

Through its two business segments – Acuity Brands Lighting and Lighting Controls
(ABL) and the Intelligent Spaces Group – Acuity Brands Inc. designs and
manufactures products and services including building management systems,
lighting, lighting controls and location-aware applications.

Acuity, with about 13,000 employees, has operations across North America, Europe
and Asia. For its fiscal year 2022 ended Aug. 31, the company reported net
income of $384 million on net sales of over $4 billion, compared with net income
of $306 million on net sales of nearly $3.5 billion in fiscal 2021.


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