Acuity Brands announced that its wholly-owned subsidiary, Acuity Brands Lighting, completed the previously announced acquisition of Distech Controls Inc., a leading provider of building automation and energy management solutions that allow for the seamless integration of lighting, HVAC, access control, closed circuit television, and related systems. Acuity Brands Lighting acquired all of the outstanding capital stock of Distech Controls for approximately 318 million Canadian dollars.
Vernon J. Nagel, Chairman, President, and Chief Executive Officer of Acuity Brands, said "The combination of Acuity Brands' broad-based industry-leading lighting portfolio, control technologies, and integrated digital solutions along with Distech Controls' wide-breadth of innovative products, services, and solutions that optimize comfort and energy efficiency in buildings will contribute to our tiered solutions strategy for making buildings smarter and more simple to operate. Distech Controls will enhance our ability to offer true end-to-end optimization of all aspects of the building, including improved occupant experience, quality visual environment, energy efficiency, operational cost reductions, and increased digital functionality, by leveraging the capability to collect vast amounts of data to better enable the Internet of Things for building owners. Distech Controls provides an additional robust platform for our future growth while also allowing us to continue to diversify and strengthen our foundation making it less reliant on new construction."