Emerson completes Copeland sale
13th August 2024
USA: Emerson has today announced the completion of the sale of its remaining 40% interest in the Copeland joint venture to private equity funds managed by Blackstone.
Emerson sold a controlling interest in its Climate Technologies business to Blackstone in October 2022 in a transaction valued at $14bn. This included the Copeland compressor and Alco valves businesses, and the entire portfolio of products and services across all HVAC and refrigeration end-markets.
In June this year, Emerson said it would sell its remaining 40% interest to Blackstone for a transaction value of approximately $3.5bn.
Related stories:
Emerson to sell remaining stake in Copeland – 11 June 2024
USA: Emerson is to sell its remaining 40% interest in the Copeland joint venture (formerly Emerson Climate Technologies) to Blackstone for a transaction value of approximately $3.5bn. Read more…
Emerson business to be renamed Copeland – 31 May 2023
USA: The Emerson Climate Technologies business is to be rebranded Copeland following the completion of the acquisition of a majority stake in the business by private equity company Blackstone. Read more…
Emerson to sell majority stake in Climate Technologies – 31 October 2022
USA: Emerson is to sell a majority stake in its Climate Technologies business to private equity funds managed by Blackstone in a transaction valued at $14bn. Read more…
