Carrier Global Corp. announced on Tuesday a monumental agreement to sell its industrial fire business to Sentinel Capital Partners for a staggering $1.425 billion, marking a significant stride in its strategic realignment efforts. This divestment underscores Carrier’s commitment to streamline operations and bolster its focus on core segments, particularly its ventilation business.
Carrier to sell industrial fire business in $1.43 billion deal : Strategic Realignment in Motion
The sale of the industrial fire business aligns with Carrier’s previously disclosed plan following its acquisition of Viessmann Climate Solutions in a monumental $13.2 billion deal last April. This strategic maneuver emphasizes Carrier’s intention to divest from non-core sectors, including fire, security, and commercial refrigeration businesses throughout the current year.
Carrier’s Chairman and CEO, David Gitlin, expressed enthusiasm over this development, stating, “This transaction marks another milestone in our transformation as we become a more focused, higher growth company, and furthers our vision to become the global leader in intelligent climate and energy solutions.”
Industry-Leading Brands on the Move
The industrial fire business encompasses renowned brands such as Det-Tronics, Marioff, Autronica, and Fireye. With a workforce of approximately 1,400 employees spread across more than 20 countries, this segment represents a significant entity within Carrier’s portfolio.
Legal Guidance and Strategic Initiatives
Paul Weiss Rifkind Wharton & Garrison LLP and Linklaters LLP have been pivotal in advising Carrier throughout its strategic divestiture endeavors, including the latest agreement with Sentinel Capital Partners.
