Net proceeds of approximately $1.1B expected to be used to pay down debt Global Commercial Refrigeration sale expected to close by the end of Q3 Sale process of Commercial and Residential Fire progressing as expected PALM BEACH GARDENS, Fla., July 2, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced it has completed the sale of its Industrial Fire business to Sentinel Capital Partners for an enterprise value of $1.425 bil ...

Company Overview - Spectrum is a leading manufacturer of industrial fire detection and suppression products, serving critical infrastructure, marine, clean energy, and other industrial markets in over 20 countries [2][4] - The company operates under four recognized brands: Det-Tronics, Marioff, Autronica, and Fireye, and has approximately 1,400 employees globally with manufacturing facilities in the US, Norway, and Finland [2][4] Acquisition Details - Sentinel Capital Partners acquired the industrial fire business from Carrier Global Corporation for an enterprise value of $1.425 billion, creating a new standalone platform named Spectrum Safety Solutions [8] - This acquisition marks Sentinel's eighth corporate carveout, showcasing its experience in the industrial sector [9] Strategic Focus - The partnership with Sentinel is expected to sharpen Spectrum's business focus, dedicate additional resources to its leading brands, and accelerate growth [3][6] - Spectrum's management team is recognized for its talent and is anticipated to leverage growth opportunities under Sentinel's support [6]

These three stocks benefit from megatrends that will drive earnings growth for many years. 1. Carrier Global positions itself for growth Both analysts like the company's decision to focus on its core HVAC competency by selling off non-core fire, security, and commercial refrigeration businesses while acquiring European heat pump and HVAC company Viessmann Climate Solutions for $13.2 billion. At the same time, the growth of adoption of smart building technology, offered by Carrier and others, is producing ta ...

The move enhances Carrier's capabilities in supply chain visibility, particularly in the pharmaceutical and life sciences sectors. Strong Portfolio Aids Prospect In first-quarter 2024, Carrier registered a reported sales increase of 17% year over year to $6.2 billion. The upside was driven by organic sales growth of 2% and a significant contribution from acquisitions, notably Viessmann Climate Solutions, which added 15% to net sales growth. Apart from strategic acquisitions and expanding portfolio, Carrier ...

"The acquisition of Berlinger's monitoring business is an exciting opportunity for Sensitech to expand our portfolio of monitoring solutions for pharma supply chains and accelerate growth in strategically important adjacencies," said Bhasker Kaushal, Vice President & General Manager, Sensitech and Refrigeration Aftermarket. "Digitization, sustainability, and automation are transforming pharma supply chains and driving adoption of real-time monitoring and cloud-based solutions. Sensitech and Berlinger share ...

PALM BEACH GARDENS, Fla., June 13, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced its ambitious greenhouse gas emission reduction goals, including a target to reach net-zero greenhouse gas emissions by 2050, have been validated by the Science Based Targets initiative (SBTi). A corporate climate action organization, SBTi enables companies and financial institutions worldwide to play their part in combating the climate c ...

The Better Buildings Commercial Heat Pump Accelerator is aimed at addressing the climate crisis by accelerating energy innovation – pushing cutting-edge, more sustainable electrification technologies from lab to market faster, with the added benefit of lowering energy costs. According to the Department of Energy, heat pump packaged rooftop units (RTUs) are estimated to reduce GHG emissions and energy costs by up to 50% compared with conventional natural gas-burning models. The Commercial Building Heat Pump ...

About Carrier | --- | --- | |----------|---------------------| | | | | CARR-IR | | | Contact: | Media Inquiries | | | Jason Shockley | | | 561-542-0207 | | | [email protected] | | | Investor Relations | | | Sam Pearlstein | | | 561-365-2251 | | | [email protected] | PALM BEACH GARDENS, Fla., June 6, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, announced today that its Board of Directors declared a quarterly dividend of $0.19 per out ...

"Kidde has been a pioneer in early smoke detection for over 100 years and Detect is our latest advanced solution designed to give homeowners more power and command over their home safety," said Isis Wu, President, Residential Fire & Safety, Carrier. "Over the last few decades, the time to safely escape a house fire went from 17 minutes to less than two. This is why Detect's faster smoke detection is so critical. Also, our new thought-provoking creative aims to make the category more approachable and memorab ...

PALM BEACH GARDENS, Fla., May 30, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today joined a prestigious list of companies recognized as one of 'America's Climate Leaders' by USA Today. The second annual list highlights U.S. companies that are leading the way with efforts to reduce greenhouse gas emissions. "Sustainability is at Carrier's core, and our portfolio transformation will help Carrier achieve its vision of becoming a true ...