Carrier Global Corporation
Carrier Global Announces Agreement to Sell Fire Business for $3 Billion
Summary
On August 15, 2024, Carrier Global Corporation announced it has entered a definitive agreement to sell its Commercial and Residential Fire business to an affiliate of Lone Star Funds for $3 billion. The sale, which is expected to close by the end of 2024, will result in Carrier redeploying the estimated $2.2 billion in net proceeds towards share repurchases. This sale is part of Carrier's strategic portfolio transformation, following recent acquisitions and divestitures.
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About Carrier Global Corporation
Carrier Global Corporation is a leading provider of heating, ventilating, and air conditioning (HVAC), refrigeration, and fire and security solutions on a global scale. Its primary function revolves around creating a comfortable, safe, and sustainable environment by delivering high-technology HVAC and refrigeration solutions. Originating from the historic invention of the modern air conditioner in 1902, Carrier has continued to be at the forefront of HVAC innovation. The company’s offerings are vital across various sectors, impacting residential, commercial, industrial, and transportation markets by ensuring energy-efficient, reliable climate control systems. Carrier Global Corporation also emphasizes smart and hands-off security solutions, offering products that integrate advanced technologies to protect businesses and homes. In the financial market, Carrier holds a significant position as a part of the S&P 500 index, denoting its substantial market capitalization and influence. Through its continuous commitment to innovation and sustainability, Carrier Global Corporation remains a pivotal entity in addressing global environmental challenges and energy efficiency needs.
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