Emerson
Summary
Emerson announced a definitive agreement under which it will sell a majority stake in its Climate Technologies business to private equity funds managed by Blackstone in a transaction valuing Climate Technologies at $14.0 billion.
The standalone Climate Technologies business includes the market-leading Copeland compressor business and the entire portfolio of products and services across all HVAC and refrigeration end-markets, representing approximately $5.0 billion of fiscal 2022 sales.
Through this agreement, Emerson and Blackstone will form a new, separate company made up of Emerson’s global HVAC, refrigeration and Gas Compression businesses and brands. This includes Climate Technologies’ compression, controls, valves, thermostats, software, monitoring, and cold chain management solutions in the Americas, Europe, Asia, Middle East and Africa.
This is an exceptional opportunity and a strategic investment for both Emerson and Climate Technologies. Following the close the transaction, Emerson will become a more cohesive, pure-play automation company that will serve diversified end markets, and the Climate Technologies business will be a new standalone leader serving the global HVACR and Gas Compression market and well positioned for continued growth.
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