Linklaters advises Carrier Global Corporation on the sale of its security business for $4.95bn

Linklaters has advised Carrier Global Corporation on the sale of its security business, Global Access Solutions, which includes the industry-leading brands of LenelS2, Supra and Onity, to Honeywell, for an enterprise value of $4.95bn.

With approximately 1,200 employees operating in 33 countries, Carrier's Global Access Solutions business is an innovative global leader in advanced access and security solutions, electronic locking systems, and contactless mobile key solutions. This pending sale will allow the business to build on the strength of its leading brands, innovative solutions, strong partner relationships and high growth potential.

The transaction is subject to regulatory approvals and customary closing conditions. It is expected to close before the end of Q3 2024.

The Linklaters deal team was led by Corporate M&A partner Derek Tong, Antitrust & Foreign Investment partner Anna Mitchell (both London) and Employment and Incentives partner Matthew Devey (Frankfurt).

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.