Truelink Capital Announces Completion of Koch Filter Corporation Sale to Atmus Filtration Technologies and Names Azam Owaisi as CEO of Air Distribution Technologies
Rhea-AI Summary
Truelink Capital completed the sale of Koch Filter to Atmus Filtration Technologies (NYSE: ATMU) for $450 million in cash and announced an executive change at Air Distribution Technologies (ADTi). Koch Filter, founded in 1966, operates manufacturing sites in Louisville, KY; East Greenville, PA; Houston, TX; and Mira Loma, CA. Truelink named Azam Owaisi as CEO of ADTi, effective immediately; he previously held senior roles at GEA Group, Dover, Pall, IDEX, and ITW. Doug Schuster will gradually transition from day-to-day leadership and remain involved through the first half of 2026. Following the divestiture, Truelink and ADTi will prioritize the core ADTi platform and pursue organic and M&A-driven growth across three business units.
Positive
- $450 million cash proceeds from Koch Filter sale
- Azam Owaisi named ADTi CEO effective immediately with senior industrial experience
- Doug Schuster to remain through H1 2026 supporting continuity
Negative
- Koch Filter divestiture removes a nationwide manufacturing platform from ADTi
- ADTi will refocus core operations, requiring execution of new organic and M&A plans
News Market Reaction
On the day this news was published, JCI declined 1.35%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
While JCI fell -6.24%, key HVAC/building products peers like CARR (+2.71%), TT (+3.81%), LII (+5.02%), CSL (+1.94%) and MAS (+4.58%) traded higher, pointing to stock-specific pressure rather than a sector-wide move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 09 | AI retail analytics | Positive | +0.7% | Launch of AI-enabled in-store analytics via Sensormatic Solutions portfolio brand. |
| Dec 04 | Dividend declaration | Neutral | -0.0% | Announcement of regular quarterly dividend of $0.40 per share. |
| Dec 02 | RNG project deal | Positive | -0.9% | Partnership on $50M landfill gas-to-RNG facility in Manatee County, Florida. |
| Dec 02 | Retail traffic data | Negative | +0.3% | Sensormatic data showing weather-driven declines in Black Friday weekend traffic. |
| Nov 05 | Earnings & guidance | Positive | +8.8% | Q4/FY25 results, major HVAC business sale, and initiation of FY26 guidance. |
Recent news reactions show generally positive alignment on financial/innovation updates, but some divergence on operational or macro-related news.
Over the past few months, Johnson Controls reported several developments. On Nov 5, 2025, Q4 and FY25 results with $6.4B quarterly and $23.6B full‑year sales plus FY26 guidance were followed by a +8.84% move. Subsequent news on retail traffic analytics, an RNG project, and holiday traffic trends produced relatively modest price changes, including instances where positive operational updates saw slight declines. The current divestiture-related announcement involving Koch Filter fits into an ongoing portfolio reshaping following the earlier Residential and Light Commercial HVAC sale.
Market Pulse Summary
This announcement centers on the completed $450 million cash sale of Koch Filter to Atmus and a new CEO appointment at Air Distribution Technologies, a business previously carved out from Johnson Controls. It follows broader portfolio reshaping, including the earlier $8.3B HVAC divestiture and solid FY25 results with $23.6B in sales. Investors may watch how Air Distribution Technologies performs independently and how Johnson Controls continues to deploy proceeds and execute on its guidance.
Key Terms
hepa filters medical
m&a financial
divestiture financial
AI-generated analysis. Not financial advice.
Founded in 1966, Koch Filter designs and manufactures air filtration products serving a broad set of commercial markets. The company offers an end-to-end portfolio of highly consumable products including pleated filters, high efficiency filters, and HEPA filters that are used across diverse commercial applications. With manufacturing operations in
Additionally, Truelink announced an executive leadership transition at Air Distribution Technologies with the appointment of Azam Owaisi as Chief Executive Officer, effective immediately. Mr. Owaisi most recently served as Chief Executive Officer,
Truelink extends its deep appreciation to Doug Schuster for his support in leading Air Distribution Technologies during Truelink's ownership since August 2024. Doug will gradually transition from day-to-day leadership and remain actively involved in the business through the first half of 2026, supporting strategic and commercial continuity.
Following the divestiture of Koch Filter, Truelink and Air Distribution Technologies will focus on the core ADTi platform by driving efficiencies and growth, both organically and via M&A, across the three key business units: Air Control Solutions, Air Movement Solutions, and Air Distribution Solutions.
"With the successful closing of the Koch Filter divestiture, we're excited to focus on ADTi's core business and drive significant organic and inorganic growth," said Todd Golditch, Co-Founder and Managing Partner of Truelink. "I want to thank the entire Koch Filter team for their partnership during our ownership and Doug Schuster for his leadership through the carve-out from Johnson Controls and his guidance during the transition process. We're pleased to welcome Azam Owaisi as ADTi's new CEO. Azam brings extensive commercial and operational experience, and we look forward to supporting him and the entire ADTi team in their growth and value creation plans."
ABOUT TRUELINK CAPITAL
Truelink Capital is a middle-market private equity firm based in
ABOUT AIR DISTRIBUTION TECHNOLOGIES
Air Distribution Technologies is an industry leader in the design and manufacture of a comprehensive suite of top performing products supporting the HVAC ecosystem. Its portfolio contains many well-recognized brands in the space serving a diversified customer base. The company was acquired by Truelink Capital in 2024 through a corporate carve-out from Johnson Controls International plc (NYSE: JCI). Learn more at: www.airdistribution.com.
ABOUT KOCH FILTER
Koch Filter is a world-class manufacturer of air filtration products, including pleated filters, high efficiency filters, and HEPA filters for commercial, industrial, and specialty applications. Koch Filter is recognized for its innovation, product quality, and commitment to enhancing indoor air quality in critical environments. Learn more at: www.kochfilter.com.
ABOUT ATMUS FILTRATION TECHNOLOGIES INC.
Atmus Filtration Technologies is a global leader in filtration and media solutions. With a presence on six continents, Atmus serves customers across truck, bus, agriculture, construction, mining, marine and power generation vehicle and equipment markets, along with providing comprehensive aftermarket support and solutions. Headquartered in
Media Contacts
Peter Lewis
plewis@truelinkcap.com
Truelink Capital
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SOURCE Truelink Capital
FAQ
What was the sale price for Koch Filter sold by Truelink to ATMU on January 7, 2026?
Who is the new CEO of Air Distribution Technologies (JCI) and when did the appointment take effect?
How long will Doug Schuster remain involved with Air Distribution Technologies after the Koch Filter divestiture?
What will Truelink and ADTi focus on after the Koch Filter divestiture announced January 7, 2026?
Which Koch Filter manufacturing locations were included in the sale to Atmus Filtration Technologies?
