CARRIER GLOBAL Corp (CARR): M&A transaction — Carrier closes Viessmann Climate Solutions acquisition for ~$14.2B total consideration

CARRIER GLOBAL Corp

Total consideration: EUR 10.2B cash plus 58.6M Carrier common shares (estimated ~$14.2B).
Viessmann Climate Solutions adds ~12,000 employees; strengthens Carrier's European RLC HVAC position.
Max Viessmann appointed to Carrier board; Thomas Heim to lead Carrier RLC HVAC in EMEA.
Bridge loan of €113M and $349M drawn to fund cash portion; additional debt financing arranged.
Pro forma combined revenue $20.2B for nine months ended Sep 30, 2023 (VCS contributed $3.2B).

item 1.01 item 2.01 item 2.03 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Maximilian Viessmann

member of the Board

CARR · CARRIER GLOBAL Corp

Effective: 2024-01-02
Filed: January 2, 2024, 6:59 PM ET

Effective as of the Closing, on January 2, 2024, Maximilian Viessmann was appointed as a member of the Board, with a term expiring at Carrier’s 2024 annual meeting of shareowners.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Maximilian Viessmann was appointed as member of the Board at CARRIER GLOBAL Corp.

Action: appointed
Role: member of the Board

Exact text from the filing

Effective as of the Closing, on January 2, 2024, Maximilian Viessmann was appointed as a member of the Board, with a term expiring at Carrier’s 2024 annual meeting of shareowners.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

CARRIER GLOBAL Corp completed an acquisition involving Viessmann Group GmbH & Co. KG for EUR 10.2 billion in cash and 58,608,959 common shares (closed 2024-01-02).

Action: acquisition
Counterparty: Viessmann Group GmbH & Co. KG
Consideration: EUR 10.2 billion in cash and 58,608,959 common shares
Closing: 2024-01-02

Exact text from the filing

Solutions ”). On January 2, 2024, Carrier completed the Acquisition. Pursuant to the Purchase Agreement, the purchase price paid by Purchaser to Seller consisted of (i) EUR 10.2 billion in cash (the “ Cash Consideration ”) and (ii) 58,608,959 common shares, par value $0.01, of Carrier (“ Carrier Common Stock ” and such consideration, the “ Share Consideration

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CARRIER GLOBAL Corp filing history →

Source: SEC EDGAR

accession 0001140361-24-000034

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