Carrier Global Corporation Acquires Toshiba Carrier Corporation Stake from Toshiba

Watsco and Carrier Acquire Temperature Equipment Corporation

March 16, 2021

HVAC & Mechanical

Watsco, Inc., together with Carrier Global Corporation, signed an agreement to acquire Temperature Equipment Corporation (TEC) for Watsco to own 80% and Carrier 20%. TEC is a Chicago/Lansing, Illinois–based HVAC distributor with $291 million in 2020 sales, ~10,000 customers and 32 Midwest locations; the deal expands Watsco's footprint into the U.S. Midwest.

Carrier Sells Commercial Refrigeration Business to Haier for $775M

October 2, 2024

Manufacturing

Carrier Global Corporation completed the sale of its commercial refrigeration business to Haier for an enterprise value of $775 million (including ~ $200 million of net pension liabilities). The transaction is part of Carrier's portfolio transformation to focus on core businesses (excluding Carrier Transicold, Sensitech and the Lynx digital ecosystem) and the net proceeds will be used to pay down debt.

Cold Chain Technologies Acquires Global Cold Chain Solutions

March 5, 2025

Manufacturing

Cold Chain Technologies (CCT) has acquired Global Cold Chain Solutions (GCCS), a provider of passive thermal packaging and related services with manufacturing sites across Australia and India; terms were not disclosed. The acquisition expands CCT's Asia Pacific presence and manufacturing capabilities in support of life sciences and pharmaceutical customers and is CCT's fifth add-on since partnering with Aurora Capital Partners.

Zero Carbon Systems Acquires Global Thermostat

May 22, 2024

Renewable Energy

Zero Carbon Systems has acquired Global Thermostat, combining Global Thermostat's decade-plus direct air capture technology with Zero Carbon Systems' large-scale engineering design and financial resources. The deal aims to accelerate deployment of low-cost, low-energy carbon dioxide removal at demonstration, commercial and megaton scales.

Bosch Acquires Johnson Controls' Residential and Light Commercial HVAC Business (including JCH JV)

July 23, 2024

Building Products

The Bosch Group has acquired Johnson Controls' Residential and Light Commercial (R&LC) HVAC business, including the Johnson Controls–Hitachi Air Conditioning (JCH) joint venture, in an all-cash transaction valued at roughly $8.0–8.1 billion. The deal expands Bosch's Home Comfort Group—nearly doubling its HVAC sales and strengthening Bosch's presence in the U.S. and Asia—while Johnson Controls will return a portion of proceeds to shareholders.

Carrier Global Acquires BrokerBay Inc.

September 16, 2021

Software

Carrier Global Corporation has agreed to acquire BrokerBay Inc., a Toronto-based developer of a cloud-based real estate showing and scheduling platform. The acquisition (expected to close in October) will integrate BrokerBay's digital showing management capabilities with Carrier Fire & Security's Supra lockbox and mobile credentialing business to strengthen access solutions and drive recurring services revenue; terms were not disclosed.