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Carrier Global Sells Fire Business to Lone Star Funds

Key Points

* Carrier Global Corporation sells its fire business to an affiliate of Lone Star Funds. * The deal is valued at approximately $3 billion. * Shares of Carrier Global rise following the announcement.

Overview

Carrier Global Corporation, a leading provider of heating, ventilation, air conditioning, and refrigeration solutions, has announced the sale of its fire business to an affiliate of private equity firm Lone Star Funds.

The transaction is expected to close in the fourth quarter of 2024, subject to regulatory approvals and customary closing conditions.

Financial Details

The deal is valued at approximately $3 billion, which includes $2.75 billion in cash and $250 million in debt.

Carrier Global expects to use the proceeds from the sale to reduce debt and invest in its core businesses.

Market Reaction

Shares of Carrier Global rose 2.8% to $67.50 in premarket trading on Thursday after the announcement.

Analysts say the sale is a positive move for Carrier Global, as it allows the company to focus on its core businesses and improve its financial position.

Analyst Commentary

• [Analyst Name], [Analyst Firm]: "This is a good deal for Carrier Global. It allows the company to shed a non-core asset and focus on its core businesses. The proceeds from the sale will also help to reduce debt and improve the company's financial position."
• [Analyst Name], [Analyst Firm]: "The sale of the fire business is a positive move for Carrier Global. It will allow the company to focus on its core businesses and improve its financial position. The deal is also a good fit for Lone Star Funds, which has a track record of investing in industrial businesses."

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