Carrier Completes Strategic Portfolio Transformation With Closing of $3 Billion Sale of Commercial and Residential Fire Business

Paul, Weiss advised Carrier Global Corporation, a global leader in intelligent climate and energy solutions, in the sale of its commercial and residential fire business to an affiliate of Lone Star Funds for an enterprise value of $3 billion. The transaction marks the culmination of Carrier’s strategic portfolio transformation following its acquisition of Viessmann Climate Solutions, and successful divestitures of its industrial fire, global access solutions and commercial refrigeration businesses—all deals on which Paul, Weiss also advised.

The Paul, Weiss team on the strategic portfolio transformation transactions was led by partner Laura Turano and counsel Dotun Obadina, and included, among others, corporate partners Steven Williams, John Kennedy, Andrew Krause, Luke Jennings, Christodoulos Kaoutzanis, Manuel Frey, Matthew Friedman, Aaron Schlaphoff, Neil Goldman, Lukas Richards and Cristina Amodeo, and counsel Bruce Gruder, Nathan Mitchell and Gabriella Toossi; tax partners Robert Holo, Jeffrey Samuels and Robert Killip, and counsel Alyssa Wolpin; intellectual property partners Bonnie Chen and Claudine Meredith-Goujon; executive compensation partners Jean McLoughlin and Ron Aizen, and counsel Cynthia Akard and Sasha Belinkie; litigation partners Lewis Clayton, Andre Bouchard, John Carlin, Mark Mendelsohn, Geoffrey Chepiga, Crystal Parker and Daniel Mason, and counsel Audrey Paquet; real estate partner Peter Fisch; restructuring partner Robert Britton; antitrust partners Joshua Soven, Nicole Kar, Henrik Morch and Marta Kelly, and counsel Chad de Souza, Yuni Sobel and Lauren O’Brien; and environmental counsel William O’Brien.