Carrier said it entered into a definitive agreement on August 15, 2024 to sell its Commercial and Residential Fire business to an affiliate of Lone Star Funds for an enterprise value of $3 billion.

8-KRegulation FD DisclosureFiled Aug 15, 2024Period of report Aug 15, 2024Summary published (UTC) Oct 25, 2026

Key points

AI summary

Carrier said it entered into a definitive agreement on August 15, 2024 to sell its Commercial and Residential Fire business to an affiliate of Lone Star Funds for an enterprise value of $3 billion.
The company said it expects the sale of the Commercial and Residential Fire business to close by the end of 2024, subject to regulatory approvals and customary closing conditions.
Carrier said it has reduced its net debt by over $5 billion since the acquisition of Viessmann Climate Solutions and plans to redeploy the estimated $2.2 billion in net proceeds from the transaction into share repurchases.
Carrier said it has signed definitive agreements for all of its divestitures, with a combined value of over $10 billion, representing a mid-teens EBITDA multiple. It added that the sale of its Commercial Refrigeration business is on track to close around the end of Q3.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Sale Agreement for Commercial and Residential Fire Business

Carrier said it entered into a definitive agreement on August 15, 2024 to sell its Commercial and Residential Fire business to an affiliate of Lone Star Funds for an enterprise value of $3 billion.

Source · Based on the filing body and exhibits

Closing Timing and Conditions

The company said it expects the sale of the Commercial and Residential Fire business to close by the end of 2024, subject to regulatory approvals and customary closing conditions.

Source · Based on the filing body and exhibits

Net Debt Reduction and Use of Net Proceeds

Carrier said it has reduced its net debt by over $5 billion since the acquisition of Viessmann Climate Solutions and plans to redeploy the estimated $2.2 billion in net proceeds from the transaction into share repurchases.

Source · Based on the filing body and exhibits

Status of Portfolio Divestitures

Carrier said it has signed definitive agreements for all of its divestitures, with a combined value of over $10 billion, representing a mid-teens EBITDA multiple. It added that the sale of its Commercial Refrigeration business is on track to close around the end of Q3.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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