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Carrier Sells Home, Commercial Fire Unit for $3 Billion
- Lone Star affiliate buys business including smoke detectors
- Divestiture is latest in series of deals to refocus company
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Carrier Global Corp. has agreed to sell its commercial and residential fire unit to an affiliate of private equity firm Lone Star Funds for an enterprise value of $3 billion.
The deal is the latest in a series of divestitures by Carrier under Chief Executive Officer Dave Gitlin to focus on its core heating and cooling equipment businesses. The sale of the unit, whose products include smoke and carbon monoxide detectors, is expected to close by the end of this year, the company said in a statement Thursday.