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Johnson Controls to sell JCSS to Versar for $20m

September 11, 2015Martha Entwistle

SPRINGFIELD, Va.—Johnson Controls (JCI), which has shed a number of businesses in recent months, on Sept. 4 signed an agreement to sell its specialized federal security integration business, called Johnson Controls Security Systems (JCSS), to Versar, a government-services business located here, for $20 million. The deal is expected to close by Oct. 1, according to Michael McManus, Imperial Capital managing director. Imperial Capital advised JCI on the deal. JSCC has approximately 50 employees....

Imperial Capital, Johnson Controls (JCI), Michael McManus, Tony Otten, Versar