Carrier Global Completes Sale of Riello Business to Ariston Group for $440 Million

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.

CAREL Acquires Kiona from Summa Equity

July 24, 2023

Cloud & SaaS

Italian HVAC-R components and solutions provider CAREL has acquired Kiona, a European PropTech SaaS platform focused on building energy efficiency, from Summa Equity and other Kiona shareholders. Kiona—used across 58,000+ buildings and employing ~145 people—will be integrated with CAREL's hardware and software offerings to expand CAREL's energy-efficiency and building-management capabilities and accelerate global growth.

Carrier Global Corporation Acquires Toshiba Carrier Corporation Stake from Toshiba

July 31, 2022

Building Products

Carrier Global Corporation has completed the acquisition of substantially all of Toshiba Corporation's ownership stake in Toshiba Carrier Corporation (TCC) for approximately $900 million. TCC, a global provider of residential and light commercial HVAC solutions including VRF and heat pump products with roughly $2 billion in 2021 sales and about 6,600 employees, will join Carrier's newly created Global Comfort Solutions business unit headquartered in Tokyo.

NB Renaissance Acquires Arbo S.p.A.

April 25, 2022

Building Products

NB Renaissance, the Italian private equity arm of Neuberger Berman, has acquired a majority stake in Arbo S.p.A., an Italian distributor of heating-system spare parts, air-conditioning systems and plumbing products. The investment will support consolidation across Italy and accelerate Arbo's international growth; sellers included Bravo Capital and Narval Investimenti.

Dresser Utility Solutions Acquires Itron's Global Gas Regulator and European C&I Gas Metering and Stations Business

February 28, 2022

Utilities

Dresser Utility Solutions has closed the acquisition of Itron's global gas regulator business and Itron's European commercial & industrial (C&I) mechanical gas meter and stations business. As part of the deal, the employees supporting those businesses transfer to Dresser, which said the acquisition expands its metering, regulation and stations capabilities while Itron focuses on advanced networks and data-driven solutions.

Ariston Global Acquires The Strata Group

December 19, 2006

Software

Ariston Global Partners, a portfolio company of Spire Capital Partners, acquired The Strata Group, a St. Louis–based provider of web-based customer self-service (CSS) software for communications service providers. The deal expands Ariston’s suite of next‑generation software applications for telecommunications carriers and complements its earlier acquisition of Telesciences as part of a platform build strategy.