Air Distribution Technologies has completed the sale of PennBarry to Hessaire Products, the company announced June 23, 2026, in a release distributed from Dallas by PR Newswire. The transaction moves the PennBarry business, which traces its roots back to 1860, out of ADT's portfolio and into Hessaire's ownership.
Air Distribution Technologies, known as ADT, is a portfolio company of Los Angeles-based private equity firm Truelink Capital. The completed sale of PennBarry to Hessaire Products marks a shift in ADT's brand lineup following the transaction.
Details of the PennBarry to Hessaire Products Sale
According to the announcement, ADT has fully completed the sale of PennBarry to Hessaire Products. PennBarry includes the Penn Ventilation and Barry Blower brands, both of which transfer to Hessaire as part of the deal. The release did not disclose the purchase price or other financial terms of the transaction.
ADT CEO Azam Owaisi and Truelink Capital Co-Founder and Managing Partner Todd Golditch were both cited in connection with the announcement of the completed sale. Following the transaction, ADT said it will retain its focus on its remaining brands: Ruskin, Titus, Krueger, and Tuttle & Bailey. The company did not include PennBarry among the brands it will continue to focus on going forward, confirming the business has fully exited ADT's portfolio.
Background on the PennBarry to Hessaire Products Deal
PennBarry's history dates back to 1860, when the business originated as the Bayley Fan Company. Over more than a century and a half, the company evolved into PennBarry, encompassing the Penn Ventilation and Barry Blower product lines, both of which are used in commercial and industrial ventilation and air-moving applications.
ADT itself has a more recent ownership history tied to the current transaction. Truelink Capital acquired Air Distribution Technologies from Johnson Controls in 2024 through a carve-out transaction, separating ADT's brand portfolio from Johnson Controls' broader operations. That 2024 carve-out brought ADT under Truelink Capital's ownership, setting the stage for the private equity firm to make subsequent portfolio decisions, including the divestiture of PennBarry to Hessaire Products announced this year.
With PennBarry now sold, ADT's remaining portfolio under Truelink Capital ownership consists of the Ruskin, Titus, Krueger, and Tuttle & Bailey brands. The company's announcement did not specify whether additional portfolio changes are planned.
Industry Context
The sale of PennBarry to Hessaire Products fits a broader pattern in the HVAC manufacturing sector, where private equity-owned platforms periodically reshape their brand portfolios by divesting business lines that fall outside a stated strategic focus. Truelink Capital's 2024 carve-out of ADT from Johnson Controls is itself an example of this dynamic, in which a larger industrial conglomerate sells off a division to a private equity buyer, which then operates and eventually restructures the acquired business independently.
Carve-out transactions of this type are common across the broader industrial and building products sectors. A private equity firm acquiring a carved-out business from a larger corporate parent typically takes on standalone operations, including manufacturing facilities, brand names, and customer contracts, that previously operated as part of a larger corporate structure. Once under private equity ownership, portfolio companies frequently undergo further changes, including the sale of specific brands or business units, as the new ownership refines its strategic focus. The completed sale of PennBarry to Hessaire Products reflects that kind of subsequent portfolio adjustment, occurring roughly two years after Truelink Capital's initial acquisition of ADT from Johnson Controls.
What's Next
Following the close of the transaction, PennBarry, including the Penn Ventilation and Barry Blower brands, will now operate under Hessaire Products' ownership. ADT has confirmed its continuing focus on the Ruskin, Titus, Krueger, and Tuttle & Bailey brands within its portfolio under Truelink Capital.
The announcement did not address whether the sale will affect PennBarry's manufacturing operations, employees, or existing customer and distributor agreements, nor did it specify Hessaire Products' plans for integrating or operating the PennBarry business going forward.
Ventilation and air-moving equipment manufacturers such as PennBarry typically supply products used in commercial, industrial, and institutional buildings, including fans, blowers, and related air-handling equipment. Brands with histories spanning more than a century, as is the case with PennBarry's roots in the 1860 Bayley Fan Company, often carry established relationships with engineers, contractors, and distributors built up over decades of specification and repeat business, a factor that can influence how such brands are valued and positioned by successive owners.
