International. Carrier announced plans to exit its Fire & Security and Commercial Refrigeration businesses and focus purely on the smart climate and energy solutions businesses.
Carrier said it expects to exit these two businesses over the course of 2024. "The departures of Fire & Security and Commercial Refrigeration will bring greater focus to Carrier's strategy and portfolio, while benefiting the customers and employees of these companies," the brand said in a statement.
Carrier expects to use the proceeds from any separation transaction to reduce leverage in accordance with an investment grade profile and repurchase the equivalent shares issued to the Viessmann family (the brand's new acquisition for the HVAC market).
Similarly, Carrier confirmed that the planned exits do not include UTEC's controls business, Fire & Security for residential HVAC customers or the refrigerated transport business known as Carrier Transicold, nor Sensitech's Profroid mechanical systems and monitoring businesses.
Carrier Brands in Fire's Business
Kidde
Edwards
GST
Marioff
Det-Tronics
Autronic
Carrier Brands in the Security Business
LenelS2
Aritech
Supra
Onity
Carrier Brands in the Controls Business
Utec
Fenwal Controls
Fireye
