International. Carrier Global Corporation recently announced that it will acquire Viessmann Climate Solutions, the largest segment of the Viessmann Group, in a cash and stock transaction valued at €12 billion, subject to working capital and other adjustments.
The company confirmed that this move is more aligned with its new philosophy of establishing itself as a benchmark in smart climate and energy solutions.
A privately held company with a 106-year legacy of innovation, Viessmann Climate Solutions provides Carrier with an iconic, premium brand in the fastest-growing segment of the global heat pump and energy transition markets.
In addition, Carrier announced plans to exit its commercial refrigeration and fire and security cabinet businesses.
"Climate change, sustainability requirements and geopolitical factors are driving an unprecedented energy transition in Europe. Accelerated by government regulations and incentives, the transition creates a significant opportunity for long-term growth. Viessmann Climate Solutions is uniquely positioned to capitalize on this opportunity with its leading brand, highly differentiated distribution channel and innovative product offerings With 70% of its business comprised of heat pumps and related accessories, solar PV, batteries and services, Viessmann Climate Solutions is a key leader in Europe's energy transition. We look forward to welcoming the 11,000 team members to the Carrier family and Max Viessmann, Viessmann's chief executive officer, to Carrier's board of directors at closing, expected by the end of 2023," said David Gitlin, Chairman & CEO of Carrier.
