Carrier completes Viessmann purchase
2nd January 2024
USA/GERMANY: Carrier has completed the €12bn acquisition of German manufacturer Viessmann Climate Solutions, following the deal’s clearance by the European Commission in December.
The deal, which was first announced in April 2023, adds Viessmann’s gas heating, air conditioning and heat pumps products to the Carrier portfolio.
Carrier described the transaction as “another meaningful step forward” in its portfolio transformation, further strengthening its global leadership position in intelligent climate and energy solutions.
“The combination adds a premier brand with a differentiated direct-to-installer channel model and a key leading provider of highly efficient and renewable climate solutions with a 100+ year record of innovation and sustainability to Carrier’s existing portfolio,” Carrier said in a statement.
“Viessmann Climate Solutions’ highly talented 12,000 team members further strengthen Carrier’s position as the leading HVAC provider globally, now positioning Carrier in the fast-growing residential and light commercial space in Europe,” it added.
Thomas Heim, who previously led Viessmann Climate Solutions, will lead Carrier RLC HVAC in Europe, the Middle East and Africa, which includes Viessmann Climate Solutions and Carrier’s RLC business in the region, including Riello.
Max Viessmann, CEO of Viessmann Group, joins Carrier’s board of directors with immediate effect.
“The transaction, together with the planned exits of our Fire & Security and Commercial Refrigeration businesses, will transform Carrier’s business into a higher growth business with a clear focus and mandate on global leadership in intelligent climate and energy solutions,” said Carrier chairman and CEO David Gitlin.”
Carrier entered into a definitive agreement to sell its Carrier Commercial Refrigeration business to Chinese manufacturer Haier for $775m last month.
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