The acquisition was completed yesterday as expected, with the 80-year-old French company becoming part of UTC Building & Industrial Systems division and a sister company of Carrier.
“This strategic acquisition creates new opportunities in the European hvac segment by enhancing the breadth of our portfolio and reach of our business,” said Didier Da Costa, president, HVAC Europe, UTC Building & Industrial Systems. “The addition of CIAT’s talented workforce, technology assets and legacy of innovation strengthens our ability to serve our customers.”
“The acquisition has provided an exceptional opportunity for us to continue to serve our customers while developing the CIAT brand in a complex European sector,” said Francis Guaitoli, ceo, CIAT. “This move allows us to fully leverage our technological expertise and the capabilities of our employees.”
The possibility of an acquisition was first reported by the Cooling Post in July after an agreement in principle was reached with the major shareholders SOMFY and the founding Falconnier family. Subsequent positive consultations with CIAT’s 2,000+ workforce and clearance by the European Commission at the end of last year, cleared the way for yesterday’s deal.
While Carrier’s main European factory is in Montluel, near Lyon, a mere 80km from CIAT’s plant in Culoz, indications are that UTC will maintain the CIAT brand and factory.
In a statement last year, UTC said it intended to maintain and grow the CIAT brand, with plans to reinforce and expand CIAT’s global network of distribution channels and service offering.
“CIAT is a well-established hvac company recognised for its product quality, technical expertise and skilled workforce,” said Philippe Delpech, chief operating officer of UTC Building & Industrial Systems Intercontinental Operations. “This agreement will enhance Carrier and CIAT product and service offerings to better serve our customers around the world,” he added.
EC clears UTC purchase of CIAT – December 8, 2014
EUROPE: The purchase of French air conditioning manufacturer CIAT by Carriers’ parent company UTC looks set to go ahead following approval by the European Commission. Read more…