Acuity Brands closes $318 mln buy of VC-backed Distech Controls
Acuity Brands Inc (NYSE: AYI) earlier this month completed its previously-announced buy of Distech Controls Inc, a provider of building automation and energy management solutions. Acuity paid $318 million for the Brossard, Québec-based company. The deal provided exits for Distech's venture capital investors, which include the Caisse de dépôt et placement du Québec, EnerTech Capital, Export Development Canada, Fonds de solidarité FTQ, Samsung Ventures and W2 Investments. As reported by peHUB Canada in May, the post-acquisition Distech will continue to operate from its Canadian head office, and will continue to be led by founder Étienne Veilleux.
14 September 2015•3 mins read
