Brookfield Asset Management and CDPQ have reached an agreement whereby Brookfield and CDPQ will acquire 100% of Johnson Controls’ Power Solutions business for approximately $13.2bn. In fiscal 2018, Power Solutions generated $8bn in revenue and $1.68bn in earnings before interest, taxes, depreciation and amortization. The transaction price of $13.2bn represents a multiple of 7.9x trailing twelve month EBITDA. “We are excited to grow our business with the acquisition of Power Solutions, a global market leader which generates consistent cash flows and profitability. We look forward to partnering with the management team to continue growing this world-class business and build on its track record of innovation.” Cyrus Madon, Brookfield Business Partners CEO.