A Grand Rapids-area manufacturer of air distribution products for both residential and commercial HVAC clients has changed ownership.
Hart & Cooley LLC — which was previously owned by Johnson Controls International plc — was recently acquired by Miami-based global private equity firm H.I.G. Capital, which will now operate it as its own entity.
“We are excited that H.I.G. has committed to investing in our business,” Jim Kaboski, CEO of Hart & Cooley, said in a statement. “They have a successful track record of adding value to companies like ours. This partnership will allow us to continue our focus on growth and innovation along with operational improvements that will provide new opportunities to serve our customers.”
Hart & Cooley — which manufactures grilles, registers, diffusers, flex air duct systems, air filtration components, chimneys systems and other components — will maintain its headquarters at 5030 Corporate Exchange Blvd. SE, near the Gerald R. Ford International Airport.
Established in 1901, Hart & Cooley also operates manufacturing and distribution facilities elsewhere in the U.S. as well as Mexico and Canada.
Johnson Controls acquired Hart & Cooley in April 2014 as part of a $1.6 billion deal with the Canada Pension Plan Investment Board to acquire its Air Distribution Technologies business, which stood as one of the largest independent providers of air distribution and ventilation products.
The portfolio featured a laundry list of brands including Krueger, Ruskin and Titus. Air Distribution Technologies was then aligned under the building efficiency platform of Johnson Controls, where it continued to operate its own brands.
“We are impressed with Hart & Cooley’s industry reputation and comprehensive portfolio of strong, market leading brands,” Todd Ofenloch, managing director of H.I.G. Capital, said in a statement. “We look forward to transitioning the nearly 120-year-old Hart & Cooley back into a standalone company and working with management to ensure the company is well positioned to be the most innovative, engaging and successful competitor in the industry.”