Johnson Controls announces its intention to divest its Global Workplace Solutions business

MILWAUKEE, Sept. 30, 2014 /PRNewswire/ -- Johnson Controls (NYSE: JCI) today announced its intention to divest its Global Workplace Solutions (GWS) business. The action reflects the company's previously stated intention to invest in businesses that are core to its long-term growth strategy and multi-industrial portfolio.

"The global facilities management outsourcing market is very healthy and continues to grow," said Alex Molinaroli, chairman and CEO, Johnson Controls. "GWS is a strong business and a leader in its market with tremendous potential to grow. As we've focused on it this past year to understand what is needed to win long-term, it is clear that GWS is really an exclusively service-based business and not core to our manufacturing, engineering and product-based portfolio. This is a win-win all around."

The GWS business is a leading provider of facilities, corporate real estate and energy management. It has been part of Johnson Controls' portfolio for more than 20 years, and currently manages more than 1.8 billion square feet of corporate real estate. It will continue to be a close partner to Johnson Controls as both a supplier and a customer.

"We have a strong reputation in the market, an incredibly talented team of employees, and a portfolio of long-standing high-quality clients," said John Murphy, vice president and president, Johnson Controls Global Workplace Solutions. "Our business has only just begun to realize its full potential. With a new owner we will have access to the capital and resources required to continue to strengthen our business and be a formidable force in the market."

Johnson Controls has retained Bank of America Merrill Lynch as exclusive financial advisor to assist in the initiative. Johnson Controls will know more about timing after it identifies potential buyers. In the meantime it is committed to working through the process as quickly as possible to ensure minimal disruption to the business.

About Johnson Controls:
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 170,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful. In 2014, Corporate Responsibility Magazine recognized Johnson Controls as the #12 company in its annual "100 Best Corporate Citizens" list. For additional information, please visit http://www.johnsoncontrols.com or follow @johnsoncontrols on Twitter.

About Global Workplace Solutions:

Johnson Controls Global Workplace Solutions is a leading provider of facilities, corporate real estate and energy management. Our more than 16,000 employees have delivered over $3 billion in savings for our customers over the last 10 years and ensure the business continuity of the 1.8 billion square feet of real estate that we manage for some of the world's largest companies in more than 75 countries. Learn more at http://www.johnsoncontrols.com/globalworkplacesolutions.

SOURCE Johnson Controls, Inc.