International. Carrier announced that it signed the definitive agreement to sell these businesses to an affiliate of Lone Star Funds for an enterprise value of 3 billion dollars.
"The sale of our commercial and residential fire business marks a decisive step in our planned business exits, which are critical to our transformation journey toward becoming a focused, agile, fastest-growing company dedicated solely to creating a more sustainable world for future generations," said Carrier's President and Chief Executive Officer, David Gitlin. "I am very proud of what our business and transaction teams have 
accomplished. We have now executed agreements on all of our divestitures, all signed within approximately one year of the announcement, with a combined value of more than $10 billion, representing an EBITDA multiple of approximately 15% in total. This reflects the enormous dedication of so many people, and I couldn't be more grateful for the tireless efforts and hard work of our team."
According to the executive, this sale marks a critical milestone in the transformation of Carrier's portfolio, following the acquisition of Viessmann Climate Solutions in January and the successful divestitures of its Global Access Solutions and Industrial Fire businesses.
Meanwhile, the sale of the Commercial Refrigeration business is scheduled to close at the end of the third quarter. The closing of the Commercial and Residential Fire business is expected by the end of 2024, subject to regulatory approvals and customary closing conditions.
