Carrier Global Corporation has entered into a definitive agreement to sell its Riello business to Ariston Group for $US430 million.
Carrier chair & CEO, David Gitlin, said Ariston Group is the right owner to guide Riello’s next phase of growth and follows a comprehensive and competitive bidding process.
"Riello has a proud legacy and talented teams, and this agreement reflects our disciplined portfolio management as we continue sharpening our focus on differentiated climate and energy solutions,” he said.
Ariston Group executive chair, Paolo Merloni, said the company is committed to building on Riello’s legacy and creating meaningful value for all stakeholders.
"Riello's respected brands, technical expertise and strong positions in its core markets make it highly complementary to Ariston Group,” Merloni said.
The transaction is expected to close during the first half of 2026.