Johnson Controls Completes Sale of Its World Services Subsidiary
MILWAUKEE, March 30 -- Johnson Controls, Inc. today announced it has completed the previously announced sale of its Johnson Controls World Services Inc. (JWCS) subsidiary to IAP Worldwide Services, Inc.
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IAP, based in Irmo, South Carolina, paid approximately $260 million in cash for JWCS, subject to adjustments.
Johnson Controls said that although it has exited the federal base operations, contingency support and temporary personnel businesses, it continues to provide federal government customers with a wide range of services, including integrated building automation systems, security solutions and energy management services, which includes Energy Savings Performance Contracts, as well as the maintenance and repair of building systems.
Johnson Controls is a global market leader in automotive systems and facility management and control. In the automotive market, it is a major supplier of integrated seating and interior systems, and batteries. For non- residential facilities, Johnson Controls provides control systems and services including comfort, energy and security management. Johnson Controls founded in 1885, has headquarters in Milwaukee, Wisconsin.
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