Carrier Completes Acquisition of Viessmann Climate Solutions

Carrier Global Corporation¬†(NYSE: CARR) announced that it has completed its acquisition of Viessmann Climate Solutions from the Viessmann Group. The transaction marks another meaningful step forward in Carrier’s portfolio transformation, further strengthening the company’s global leadership position in intelligent climate and energy solutions.

The combination adds a premier brand with a differentiated direct-to-installer channel model and a key leading provider of highly efficient and renewable climate solutions with a 100+ year record of innovation and sustainability to Carrier’s existing portfolio. Viessmann Climate Solutions’ highly talented 12,000 team members further strengthen Carrier’s position as the leading HVAC provider globally, now positioning Carrier in the fast-growing Residential and Light Commercial (RLC) space in Europe. Thomas Heim, who previously led Viessmann Climate Solutions, will lead Carrier RLC HVAC in Europe, the Middle East and Africa, which includes Viessmann Climate Solutions and Carrier’s RLC business in the region, including Riello.

The combination with¬†Viessmann Climate Solutions creates the most comprehensive and differentiated suite of sustainable climate technologies and services in the industry today,” said Carrier Chairman & CEO¬†David Gitlin. “The transaction, together with the planned exits of our Fire & Security and Commercial Refrigeration businesses, will transform Carrier’s business into a higher growth business with a clear focus and mandate on global leadership in intelligent climate and energy solutions.”

Effective immediately,¬†Max Viessmann, CEO of Viessmann Group, joins Carrier’s Board of Directors. “I look forward to working closely with Dave and his leadership team as well as my fellow Board Directors, to build a future-proof, truly global, climate champion,” said Viessmann. “I could not be more excited about this combination, which lays the perfect basis to capture growth opportunities and maximize impact for generations to come.

The addition of Viessmann Climate Solutions positions Carrier as a digitally enabled, scalable, end-to-end sustainable climate and energy solutions provider that addresses all heating, cooling, renewables, solar PV, battery storage and energy management needs for the home.