Johnson Controls acquires facility management platform FM: Systems from Accel-KKR

• Headquartered in Cork, Ireland, Johnson Controls is a provider of smart, healthy and sustainable buildings
• FM:Systems CEO and Chairman Kurt von Koch will join Johnson Controls’ digital business in a leadership role
• Centerview Partners LLC served as financial advisor to Johnson Controls while Moelis & Company LLC and Raymond James acted as financial advisors to FM:Systems

Accel-KKR has sold Raleigh, North Carolina-based FM: Systems, a digital workplace management and Internet of Things solutions provider for facilities and real estate professionals, to Johnson Controls. The purchase price was $455 million.

Headquartered in Cork, Ireland, Johnson Controls is a provider of smart, healthy and sustainable buildings.

“Workplace management technology is a key enabler in terms of improving operational efficiency, creating safer, healthier and smarter buildings, and supporting sustainability goals. Since our investment in 2017, FM:Systems has become a leader in this space with continued innovation and service excellence, leading to a strong growth profile,” said Dean Jacobson, managing director at Accel-KKR in a statement. “We are proud of the success accomplished together with the talented team at FM:Systems, and we are pleased to see how well FM:Systems fits into and expands Johnson Controls OpenBlue digital capabilities in pursuit of a shared vision to lead in the future of autonomous and connected buildings.”

FM:Systems CEO and Chairman Kurt von Koch will join Johnson Controls’ digital business in a leadership role.

Centerview Partners LLC served as financial advisor to Johnson Controls while Moelis & Company LLC and Raymond James acted as financial advisors to FM:Systems.

Based in Menlo Park, California, Accel-KKR invests in tech companies.