Carrier Global Corporation has completed its $US13.17 billion acquisition of Viessmann Climate Solutions from the Viessmann Group.
Viessmann Climate Solutions, the largest segment of Viessmann Group, has been a privately held company for 106-years.
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 has 12,000 staff and the new Carrier business in Europe also includes Riello.
Carrier chair & CEO David Gitlin said this transaction, together with the planned exits of the 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.
Viessmann Group CEO, Max Viessmann, has joined Carrier's board of directors.