Carrier Global to Sell Fire Business to Private Equity Firm
Carrier Global to Sell Fire Business for $1.425 Billion
Carrier Global Corporation NYSE CARR has announced that it has entered into an agreement to sell its commercial and residential fire detection and suppression business to private equity firm Lone Star Funds for $1.425 billion. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions and regulatory approvals.Fire Business Sale Allows Carrier Global to Focus on Core Business
Carrier Global is a leading provider of heating, ventilation, air conditioning, and refrigeration solutions, as well as fire detection and suppression systems. The sale of the fire business will allow the company to focus on its core businesses and invest in growth opportunities.Fire Business Sale Will Help Lone Star Expand Portfolio
Lone Star is a leading private equity firm with a long history of investing in businesses that are undergoing change or restructuring. The acquisition of Carrier Global's fire business will expand Lone Star's portfolio and provide the company with a platform to grow its presence in the fire detection and suppression market.Sale of Fire Business Is a Positive Step for All Parties
Both Carrier Global and Lone Star believe that the sale of the fire business is a positive step for all parties involved. Carrier Global will be able to focus on its core businesses and invest in growth opportunities, while Lone Star will gain a strong platform to grow its presence in the fire detection and suppression market.About Carrier Global Corporation
- Provider of heating, ventilation, air conditioning, and refrigeration solutions
- Also provides fire detection and suppression systems
- NYSE: CARR
About Lone Star Funds
- Leading private equity firm
- $80 billion in assets under management
- Portfolio includes investments in corporate equity, credit, real estate, and other assets
Transaction Details
- $1.425 billion purchase price
- Expected to close in Q4 2024
- Subject to customary closing conditions and regulatory approvals
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