Carrier nears deal for German industrial manufacturer Viessmann

Air conditioner maker Carrier Global Corp. is reported to be in advanced talks to acquire German HVACR manufacturer Viessmann for more than $10bn including debt. Reports in the Wall Street Journal, suggest that the deal could be announced as soon as this week.

Carrier is said to be primarily buying Viessmann’s climate solutions business which includes gas heating, air conditioners, heat pumps and refrigeration.

Established in 1917 and based in Allendorf, Germany, Viessmann remains a family-owned business and achieved sales of €4bn in 2022. It now operates 22 factories worldwide, employing 14,500 staff.

Last year, the company announced a €200m expansion of its heat pump factory in Poland as part of a €1bn three-year investment to extend its green climate solutions portfolio.

Carrier, which split from United Technologies in 2020, has recently been mulling over the potential sale or spin off its fire and security business. Last year, it acquired Toshiba’s ownership stake in the Toshiba Carrier air conditioning business that was established in 1999.

Neither company has yet commented on the speculation.

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