{
  "title": "Carrier acquires Viessmann Climate Solutions: €12B price and structure",
  "url": "https://acquisitions.com/blog/carrier-acquires-viessmann-climate-solutions/",
  "author": "Moran Pober",
  "publisher": "Acquisitions.com",
  "published": "2026-10-23",
  "updated": "2026-10-23",
  "section": "Deal reports",
  "keyword": "Carrier acquires Viessmann Climate Solutions",
  "short_answer": "Carrier agreed on 25 April 2023 to buy Viessmann Climate Solutions, the heat pump and heating arm of Germany's Viessmann Group, for €12 billion. At closing on 2 January 2024 it paid €10.2 billion in cash and 58,608,959 Carrier shares. Carrier said the price was about 13 times projected 2023 EBITDA after synergies.",
  "facts": {
    "Buyer": "Carrier Global Corporation (NYSE: CARR), Palm Beach Gardens, Florida",
    "Target": "Viessmann Climate Solutions SE, the largest segment of Viessmann Group",
    "Sector": "HVAC manufacturing: heat pumps, boilers, solar PV, home batteries and controls",
    "Location": "Germany, selling across Europe (seller: Viessmann Group GmbH & Co. KG)",
    "Price": "€12 billion, subject to working capital and other adjustments",
    "Structure": "80% cash, 20% Carrier common stock issued to the Viessmann family. Paid at close: €10.2 billion in cash and 58,608,959 Carrier shares",
    "Valuation": "About 13 times synergized projected 2023 EBITDA (Carrier's own figure)",
    "Target size": "About €4 billion of 2023 forecast sales and about €0.7 billion of 2023 forecast EBITDA; 11,000 staff at signing, 12,000 at closing",
    "Announced": "25 April 2023; closed 2 January 2024",
    "Source": "Carrier press release, Exhibit 99.1 to its 8-K; closing 8-K"
  },
  "sources": [
    "https://www.sec.gov/Archives/edgar/data/1783180/000095014223001199/eh230352694_ex9901.htm",
    "https://www.sec.gov/Archives/edgar/data/1783180/000114036124000034/ef20016935_8k.htm",
    "https://ir.carrier.com/news-releases/news-release-details/carrier-completes-acquisition-viessmann-climate-solutions",
    "https://achrnews.com/articles/154007-carrier-completes-viessmann-climate-solutions-acquisition"
  ],
  "license": "Facts may be quoted with attribution to Acquisitions.com and a link to the url above."
}