Linklaters advises Carrier Global Corporation on the sale of its Industrial Fire business for US$1.425bn

Linklaters has advised Carrier Global Corporation on the sale of its Industrial Fire business, which includes industry-leading brands Det-Tronics, Marioff, Autronica and Fireye, to Sentinel Capital Partners for an enterprise value of US$1.425bn.

This transaction represents the latest step in Carrier’s ongoing portfolio transformation, following the recent acquisition of Viessmann Climate Solutions for €12bn and the recently announced agreements to sell Carrier's Global Access Solutions business to Honeywell for nearly US$5bn and its Commercial Refrigeration business to Haier for US$775m, all of which Linklaters advised on.

With approximately 1,400 employees operating in more than 20 countries, Carrier's Industrial Fire business is a global leader in fire detection and suppression solutions for high-hazard applications across verticals such as critical infrastructure, oil and gas, marine and clean energy. This pending sale will allow the business to build on the strength of its advanced lifecycle solutions, strong customer relationships and high growth potential across key segments.

Closing is expected in the third quarter of 2024 and is subject to regulatory approvals and customary closing conditions.

The Linklaters deal team was led by Corporate M&A partner Derek Tong, Antitrust & Foreign Investment partner Anna Mitchell (both London) and Employment and Incentives partner Matthew Devey and IP partner Julia Schönbohm (both Frankfurt).

Linklaters’ M&A practice advises corporates, financial sponsors and investment banks on their most significant and complex corporate transactions in all sectors and geographies. The firm’s end-to-end approach brings together its leading transactional expertise with the full range of specialist areas including antitrust, employment and incentives, environmental, intellectual property, pensions, tax and technology.