Linklaters advises Carrier Global Corporation on the sale of its Commercial and Residential Fire business for US$3bn

Linklaters has advised Carrier Global Corporation on the sale of its Commercial and Residential Fire business to an affiliate of Lone Star Funds for an enterprise value of US$3 billion.

The sale marks a critical milestone in Carrier’s portfolio transformation, following the acquisition of Viessmann Climate Solutions in January and the successful divestitures of its Industrial Fire and Global Access Solutions businesses, all of which Linklaters also advised on.

Closing is expected by the end of 2024, subject to regulatory approvals and customary closing conditions.

The Linklaters deal team was led by partners Derek Tong and Matthew Devey. Partner Georgina Kon led on TMT aspects, partner Anna Mitchell on antitrust and FDI, and partner Julia Schönbohm with counsel Atif Wolfgang Bhatti on IP. Partner Andy Bruce led on real estate matters with managing associates Elyse Yap and Tom Farrar. 

Linklaters’ M&A practice advises corporates, financial sponsors and investment banks on their most significant and complex corporate transactions in all sectors and geographies. The firm’s end-to-end approach brings together its leading transactional expertise with the full range of specialist areas including antitrust, employment and incentives, environmental, intellectual property, pensions, tax and technology.