Blackstone-led Consortium Acquires Emerson's Remaining Interest in Copeland
June 6, 2024
Private equity funds managed by Blackstone, with investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and GIC, will acquire Emerson's remaining 40% interest in the Copeland joint venture (formerly Emerson Climate Technologies) for approximately $3.5 billion. The deal — in which Copeland will repurchase the seller's note — furthers Emerson's portfolio simplification and is expected to close in the second half of 2024, subject to regulatory approvals.
- Buyers
- Private equity funds managed by Blackstone, A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), GIC
- Targets
- Copeland (formerly Emerson Climate Technologies)
- Sellers
- Emerson
- Industry
- Manufacturing
- Location
- Missouri, United States
- Transaction Type
- Divestiture
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