US Company Carrier Buys German Firm Viessmann's Heating Unit for $13 Billion
- Carrier Global Corp is acquiring Viessmann Group's climate solutions unit, which makes heating and cooling equipment, for $13.2 billion.
- The deal is part of Carrier's plan to focus on "intelligent climate and energy solutions" as it exits other businesses like fire and security and commercial refrigeration.
- Viessmann's climate solutions unit generates 85% of the company's revenue and is a leader in heat pumps, which Germany wants to expand to reduce emissions.
- The German government is scrutinizing the deal to ensure it benefits the country's economy and green energy transition.
- The acquisition boosts dealmaking in Germany's slowing mergers and acquisitions market and expands the U.S. company's reach in Europe's growing heat pump market.