Carrier Acquires Cavius, an Innovative Residential Alarm Company
Carrier Global Corporation (NYSE:CARR) has announced the acquisition of Cavius, a Danish company specializing in residential alarm systems. This strategic move is expected to enhance Carrier's Fire & Security offerings in Europe, including expanding their existing Kidde product line. Notably, Cavius is known for its innovative smoke alarm technology, including the world's smallest photoelectric smoke alarm. The acquisition aims to accelerate Carrier's innovation pipeline and provide opportunities for growth in Europe and Asia. Financial terms of the deal were not disclosed.
- Acquisition of Cavius bolsters Carrier's Fire & Security product line in Europe.
- Cavius' innovative products can expand Carrier's market reach and customer channels.
- Potential for growth in interconnected home safety technologies.
- None.
PALM BEACH GARDENS, Fla., Oct. 19, 2021 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR) the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, has acquired Cavius, an innovative Danish residential alarm company that provides a complete range of smoke, heat, flood and carbon monoxide alarms. Cavius is a pioneer in the advancement of alarms, including the invention of the world's smallest photoelectric smoke alarm, which is distinguished by its award-winning European-approved micro-design. Cavius will strengthen Carrier Fire & Security's residential fire safety solutions in Europe, which includes leading Kidde products.
"The acquisition of Cavius, combined with the market strength of Kidde, will accelerate our innovation pipeline, grow our interconnected home safety offering and strengthen our professional and retail customer channels," said Jurgen Timperman, President, Carrier Fire & Security. "Cavius' broadly appealing products along with Carrier's geographic presence will also provide unique opportunities to expand into new territories across Europe with the potential for further global expansion in key regions like Asia."
Kidde is a world leader in the fire protection industry and offers a full range of essential home safety products, including smoke and carbon monoxide alarms, fire extinguishers and fire blankets.
The acquisition of Cavius enhances Carrier's Healthy Homes range in Europe, Australia and New Zealand with new, uniquely designed products that will reach a growing consumer demographic seeking premium, highly designed interconnected home safety technologies.
"We're excited to join Carrier and share a mutual commitment to making the world a safer place to live," said Glenn Højmose, CEO, Cavius. "Together we will continue providing best-in-class innovative and differentiated offerings. We also look forward to joining forces to shape the future of Healthy Homes and taking our solutions to more consumers around the world."
The terms of the transaction were not disclosed.
About Carrier
As the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, Carrier Global Corporation is committed to making the world safer, sustainable and more comfortable for generations to come. From the beginning, we've led in inventing new technologies and entirely new industries. Today, we continue to lead because we have a world-class, diverse workforce that puts the customer at the center of everything we do. For more information, visit www.Corporate.Carrier.com or follow us on social media at @Carrier.
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Cautionary Statement
This communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide management's current expectations or plans for Carrier's future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "outlook," "confident," "scenario" and other words of similar meaning in connection with a discussion of future operating or financial performance or the separation from United Technologies Corporation (the "Separation"), since renamed Raytheon Technologies Corporation. Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash, share repurchases, tax rates and other measures of financial performance or potential future plans, strategies or transactions of Carrier, the estimated costs associated with the Separation, Carrier's plans with respect to its indebtedness and other statements that are not historical facts. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see Carrier's reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission from time to time. Any forward-looking statement speaks only as of the date on which it is made, and Carrier assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
Contact:
Ivanette Bonilla
561-329-8392
Ivanette.Bonilla@Carrier.com
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SOURCE Carrier Global Corporation
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