Johnson Controls buys Asset Plus to speed UK decarbonisation plan – Image from iStock
Sustainable buildings specialist Johnson Controls has purchased Asset Plus, a provider of energy reduction and zero-carbon measures for the UK public sector.
Asset Plus gives strategic support and project management for energy-efficiency measures and retrofitting across complex built environments including multiple NHS organisations, local authorities, and educational establishments. This includes low-carbon heating through air source heat pumps, low-energy LED lighting, and solar power integration, which are key in supporting companies to achieve vital net zero carbon emissions.
David Lloyd, head of connected buildings at Johnson Controls UK&I, said: “We have completed the acquisition of Asset Plus, one of the UK’s leading independent experts in the design and project management for implementation of decarbonisation and energy efficiency offerings. Its services will further enable Johnson Controls to deliver a turnkey net zero offering to all our UK clients, across all sectors, supporting us to deliver on our promise to create a safe, comfortable and, most importantly, sustainable world.”
Asset Plus complements Johnson Controls’ specialist public sector services, having been appointed as a supplier under five key procurement frameworks, including the Re:Fit Programme and the Carbon and Energy Fund (CEF). The NHS recently chose Johnson Controls for its National Framework Agreement for the provision of Smart Building Solutions using the Internet of Things (IoT). This latest acquisition provides more opportunities for UK public bodies to achieve sustainability targets through smart technologies.
This includes Johnson Control's OpenBlue complete suite of connected solutions, which allows organisations to implement data-led sustainability strategies. Jamie Cameron, director of digital solutions at Johnson Controls UK&I, addd:, “With Asset Plus enhancing Johnson Controls' existing portfolio, organisations can now adopt insight-driven sustainability strategies, taking informed action to reduce energy consumption, lower costs and adopt green electricity.”
Paul Burnett, co-founder and managing director of Asset Plus, said: “Johnson Controls is the global leader for smart, healthy and sustainable buildings and a perfect fit for Asset Plus, providing a unique opportunity to pivot our energy performance model to other market sectors and expand our offering, transitioning the business into the next phase of growth.”
This latest acquisition follows Johnson Controls’ recent takeovers of Reading-based Powertec Pumps and fire protection systems provider Xcell Misting.
* Johnson Controls International plc announced its earnings results last week (4 May). The company saw revenue of $6.10 billion (circa £4.954 billion) during the last quarter, compared with analysts’ expectations of $6.16 billion (c. £5 billion). Net income from continuing operations was $11 million (c. £8.9 billion).
Adjusted net income from continuing operations of $441 million (c. £358 million) increased 18% versus the previous year. Earnings before interest and taxes ("EBIT") was $161 million (c. £130.7 million) and EBIT margin was 2.6%. Adjusted EBIT was $608 million (c. 492.5 million) and adjusted EBIT margin was 10.0%, up 40 basis points over the prior year. Johnson Controls International had a net margin of 5.00% and a return on equity of 11.10%. The firm’s revenue for the quarter was up 9.0% on a year-on-year basis.
George Oliver, chairman and CEO of Johnson Controls, said. ”Demand for innovative solutions that address urgent needs for sustainability, energy efficiency, and higher indoor environmental quality continues to accelerate. We delivered another quarter of strong order, revenue and profit growth in Q2. We are, however, experiencing more near-term supply chain disruptions than expected, which have negatively impacted the pace and mix of our backlog conversion."
“The underlying fundamentals of our business remain strong, and I am confident in our ability to navigate the temporary headwinds impacting our profitability. We continue to make progress toward enabling our strategic vision to digitally transform the buildings industry, leveraging our OpenBlue digital platform to capitalise on the attractive global trends over the next decade."
