Johnson Air Conditioning has been renamed as Johnson Energy in a deal worth $50m, the company said.
The new name will be announced in the coming days, the firm said in a statement on Monday.
Johnson Energy is a subsidiary of Johnson Group, which owns Johnson’s air conditioning unit, Johnson, and Johnson Power.
The company, which is based in Sydney, Australia, said it had a market value of $1.5 billion.
“Our customers have always valued the service and experience Johnson provides.
We are proud to partner with Johnson to bring Johnson energy to new heights,” Johnson said in the statement.
The Johnson unit, which was purchased by Johnson for $9.6 million in 2012, has a range of models that have been sold around the world, including the Johnson 3, Johnathan 6, Johnston 6, and the Johnston Elite.
Johnston said it has plans to introduce new products in the future, such as air conditioning for large homes.