Carrier Completes $775M Sale of its Commercial Refrigeration Business to Haier
Carrier Global (NYSE: CARR) has completed the sale of its commercial refrigeration business to Haier for an enterprise value of $775 million, including approximately $200 million of net pension liabilities. This sale, along with other completed and announced divestitures, is part of Carrier's portfolio transformation strategy to focus on its core businesses.
The transaction marks significant progress in Carrier's efforts to strengthen its global leadership position in intelligent climate and energy solutions. The net proceeds from the sale will be used to pay down debt. Carrier Transicold transport refrigeration, Sensitech, and the Lynx digital ecosystem were not included in the transaction and remain core to Carrier's vision.
BofA Securities acted as financial advisor to Carrier, while Paul, Weiss, Rifkind, Wharton & Garrison LLP and Linklaters LLP served as external legal counsel.
Carrier Global (NYSE: CARR) ha completato la vendita della sua attività di refrigerazione commerciale a Haier per un valore d’impresa di 775 milioni di dollari, inclusi circa 200 milioni di dollari di passività pensionistiche nette. Questa vendita, insieme ad altre dismissioni completate e annunciate, fa parte della strategia di trasformazione del portafoglio di Carrier, per concentrarsi sulle sue attività principali.
La transazione segna un progresso significativo negli sforzi di Carrier per rafforzare la sua posizione di leadership globale in soluzioni intelligenti per il clima e l’energia. I proventi netti dalla vendita saranno utilizzati per ridurre il debito. La refrigerazione per il trasporto Carrier Transicold, Sensitech e l’ecosistema digitale Lynx non sono stati inclusi nella transazione e rimangono centrali nella visione di Carrier.
BofA Securities ha agito come consulente finanziario per Carrier, mentre Paul, Weiss, Rifkind, Wharton & Garrison LLP e Linklaters LLP hanno fornito assistenza legale esterna.
Carrier Global (NYSE: CARR) ha completado la venta de su negocio de refrigeración comercial a Haier por un valor empresarial de 775 millones de dólares, incluyendo aproximadamente 200 millones de dólares en pasivos netos de pensiones. Esta venta, junto con otras desinversiones completadas y anunciadas, es parte de la estrategia de transformación de la cartera de Carrier para centrarse en sus negocios centrales.
La transacción marca un progreso significativo en los esfuerzos de Carrier para fortalecer su posición de liderazgo global en soluciones climáticas y energéticas inteligentes. Los ingresos netos de la venta se utilizarán para reducir deudas. La refrigeración de transporte Carrier Transicold, Sensitech y el ecosistema digital Lynx no se incluyeron en la transacción y siguen siendo fundamentales para la visión de Carrier.
BofA Securities actuó como asesor financiero de Carrier, mientras que Paul, Weiss, Rifkind, Wharton & Garrison LLP y Linklaters LLP sirvieron como asesores legales externos.
Carrier Global (NYSE: CARR)는 상업용 냉동 사업을 Haier에 7억 7,500만 달러의 기업 가치로 매각을 완료했습니다. 이 금액에는 약 2억 달러의 순 연금 부채가 포함됩니다. 이번 매각은 완료되거나 발표된 다른 매각들과 함께 Carrier의 포트폴리오 변혁 전략의 일환으로, 핵심 사업에 집중하기 위한 것입니다.
이번 거래는 지능형 기후 및 에너지 솔루션에서 Carrier의 글로벌 리더십 강화 노력에 있어 중요한 진전을 의미합니다. 매각으로 인한 순수익은 부채 상환에 사용될 예정입니다. Carrier Transicold 운송 냉동, Sensitech, Lynx 디지털 생태계는 거래에 포함되지 않았으며 Carrier의 비전에서 핵심적인 부분으로 남아 있습니다.
BofA Securities는 Carrier의 재정 고문 역할을 했으며, Paul, Weiss, Rifkind, Wharton & Garrison LLP와 Linklaters LLP는 외부 법률 자문 역할을 했습니다.
Carrier Global (NYSE: CARR) a finalisé la vente de son activité de réfrigération commerciale à Haier pour une valeur d'entreprise de 775 millions de dollars, y compris environ 200 millions de dollars de passifs nets de pension. Cette vente, ainsi que d'autres cessions réalisées et annoncées, fait partie de la stratégie de transformation du portefeuille de Carrier pour se concentrer sur ses activités principales.
La transaction marque un progrès significatif dans les efforts de Carrier pour renforcer sa position de leader mondial dans les solutions climatiques et énergétiques intelligentes. Les produits nets de la vente seront utilisés pour réduire la dette. La réfrigération des transports Carrier Transicold, Sensitech et l'écosystème numérique Lynx n'ont pas été inclus dans la transaction et restent au cœur de la vision de Carrier.
BofA Securities a agi en tant que conseiller financier pour Carrier, tandis que Paul, Weiss, Rifkind, Wharton & Garrison LLP et Linklaters LLP ont servi de conseils juridiques externes.
Carrier Global (NYSE: CARR) hat den Verkauf seiner Gewerbekühlungsaktivitäten an Haier für einen Unternehmenswert von 775 Millionen Dollar abgeschlossen, einschließlich etwa 200 Millionen Dollar an Nettorentenverbindlichkeiten. Dieser Verkauf, zusammen mit anderen abgeschlossenen und angekündigten Veräußerungen, ist Teil von Carriers Portfoliostrategie zur Fokussierung auf die Kernaktivitäten.
Die Transaktion markiert einen bedeutenden Fortschritt in Carriers Bemühungen, seine globale Führungsposition in intelligenten Klima- und Energielösungen zu stärken. Der Nettoerlös aus dem Verkauf wird zur Schuldenreduzierung verwendet. Die Carrier Transicold Transport- und Kühlung, Sensitech und das digitale Ökosystem Lynx waren nicht Teil der Transaktion und bleiben zentral für Carriers Vision.
BofA Securities fungierte als Finanzberater für Carrier, während Paul, Weiss, Rifkind, Wharton & Garrison LLP und Linklaters LLP als externe Rechtsberater tätig waren.
- Completed sale of commercial refrigeration business for $775 million enterprise value
- Progress in portfolio transformation strategy
- Net proceeds to be used for debt reduction
- Retention of core businesses: Carrier Transicold, Sensitech, and Lynx digital ecosystem
- Divestiture of a business unit may impact overall revenue
Insights
Carrier's sale of its commercial refrigeration business to Haier for
Key financial implications:
- Enterprise value of
$775 million , including$200 million of net pension liabilities - Proceeds will be used to pay down debt, improving Carrier's balance sheet
- Streamlined portfolio could lead to improved operational efficiency and potentially higher margins
The transaction's impact on Carrier's financials will be clearer in upcoming earnings reports. Investors should monitor how effectively management redeploys capital and executes its strategic focus on core businesses. The completion of this sale, with others in progress, signals Carrier's commitment to reshaping its business model, which could positively influence investor sentiment and valuation multiples in the medium term.
This divestiture aligns with broader industry trends of companies streamlining their portfolios to focus on core competencies and high-growth areas. For Carrier, this means doubling down on intelligent climate and energy solutions, a sector with significant growth potential due to increasing global focus on sustainability and energy efficiency.
Market implications:
- Potential for improved market positioning in core segments
- Enhanced ability to invest in R&D and innovation in target areas
- Possible revaluation by investors as Carrier becomes a more focused play in the climate solutions space
The sale to Haier, a long-term joint venture partner, suggests a smooth transition for the divested business. This could minimize disruption and maintain important business relationships. Investors should watch for any shifts in Carrier's competitive landscape and market share in its remaining core businesses as it completes its transformation.
Carrier Transicold transport refrigeration, Sensitech and the Lynx digital ecosystem are not included in the transaction and remain core to Carrier achieving its vision.
"The sale of Carrier Commercial Refrigeration marks a significant step in our portfolio transformation to further strengthen our company's global leadership position in intelligent climate and energy solutions," said Carrier Chairman & CEO David Gitlin. "Three of four announced business exits are now complete and the sale of Commercial and Residential Fire is expected to close by the end of 2024. I want to thank the thousands of Carrier Commercial Refrigeration employees for their contributions to the business and wish them the best with Haier."
As previously communicated, the net proceeds of the transaction will be used to pay down debt.
BofA Securities acted as financial advisor to Carrier, and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Linklaters LLP acted as external legal counsel.
About Carrier
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating solutions that matter for people and our planet 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 Carrier on social media at @Carrier.
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. Forward-looking statements may include, among other things, statements relating to the sale of our industrial fire business, expected uses of the net proceeds therefrom, strategies or transactions of Carrier, 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
CARR-IR
Contact:
Investor Relations
561-365-2251
InvestorRelations@Carrier.com
Media Inquiries
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561-281-2362
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SOURCE Carrier Global Corporation
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