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Carrier in talks to acquire Viessmann

USA/GERMANY: Carrier is reported to be in advanced talks to acquire German HVACR manufacturer Viessmann for more than $10bn including debt.

Reports in the Wall Street Journal, yesterday, suggest that the deal could be announced as soon as this week. 

Carrier is said to be primarily buying Viessmann’s climate solutions business which includes gas heating, air conditioners and heat pumps.

Established in 1917 and based in Allendorf, Germany, Viessmann remains a family-owned business and achieved sales of €4bn in 2022. It now operates 22 factories worldwide, employing 14,500 staff.

Last year, the company announced a €200m expansion of its heat pump factory in Poland as part of a €1bn three-year investment to extend its green climate solutions portfolio.

Carrier, which split from United Technologies in 2020, has recently been mulling over the potential sale or spin off its fire and security business. Last year, it acquired Toshiba’s ownership stake in the Toshiba Carrier air conditioning business that was established in 1999.

Neither company has yet commented on the speculation.

Related stories:

Heat pumps boost Viessmann sales to €4bn1 February 2023
GERMANY: The Viessmann Group reports total revenue in 2022 of €4bn, an increase of 19% on 2021. Read more…

Viessmann invests €200m in new heat pump factory14 July 2022
GERMANY/POLAND: Viessmann is to invest €200m in expanding and partially rebuilding its existing factory in Poland to create a new heat pump logistics centre. Read more…

Carrier to acquire Toshiba Carrier HVAC business – 7 February 2022
USA/JAPAN: Carrier has confirmed that it has signed a binding agreement to acquire Toshiba’s ownership stake in the Toshiba Carrier air conditioning business – a deal reportedly worth $870m. Read more… 

Toshiba to sell air conditioning business? – 5 February 2022
JAPAN: Toshiba is set to sell its stake in its Toshiba Carrier air conditioning business to its US joint venture partner Carrier for around $870m, according to reports in Japan. Read more…

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