Carrier to Buy Viessmann Climate Solutions

Carrier to Buy Viessmann Climate Solutions

New transatlantic partnership underlines the importance of international collaboration in the fight against global climate change

The Viessmann Group has announced plans to combine its business area ‘Viessmann Climate Solutions’ with Carrier Global Corporation (“Carrier”), a leading global provider of intelligent climate and energy solutions with headquarters in Palm Beach Gardens, Florida (USA).

With this step, Viessmann Group’s business area Climate Solutions and Carrier will be co-creating a new global champion for climate and energy solutions.

The new transatlantic partnership underlines the importance of international, cross-border collaboration in the fight against global climate change.

Both companies are fully committed to taking more responsibility for a sustainable energy transition in the building sector, focusing on their purposes: Viessmann Group’s purpose is to co-create living spaces for generations to come.

Carrier’s vision is to create solutions that matter for people and our planet. Both companies regard the climate goals in North America and Europe as a once-in-a-century opportunity to make a positive impact, by actively shaping sustainable climate and energy solutions for future generations.

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Viessmann Group Chairman of the Board of Directors Prof Martin Viessmann: “Strong partnerships have always been fundamental to the success of our family business in the past 106 years. And Carrier is a strong partner for our Climate Solutions business.

"By joining forces, we will be able to uplift our impact on the decarbonization of the building sector to the next level with more reach and scale globally – for our family members and for our partners and most importantly for more climate protection.“

Viessmann Group CEO Max Viessmann: “The world’s energy transition can only be managed successfully if companies think, act and collaborate on a global level.

"Building on our very positive growth momentum and a market-leading integrated solutions offering, we are combining our Climate Solutions business area with Carrier to build the next future-proof, truly global, climate champion.

"Through the combination of both companies, we are forming a fast-growing innovation leader in a highly competitive market environment – from a position of strength. This partnership lays the perfect basis to jointly capture growth opportunities and maximize our impact for generations to come.”

Carrier CEO David L. Gitlin: “Viessmann Group’s business area ‘Climate Solutions’ is an outstanding business with a superior market position, unmatched distribution channels and huge growth opportunities.

"Its success is based on its superb workforce which has a strong value-driven culture and its game-changing integrated solutions offering.

"Martin and Max have built Europe’s most recognized premium climate solutions brand and Carrier is fully committed to further building on that growth momentum. We are thrilled to co-create the future of the intelligent climate and energy solutions industry together.”

All Viessmann Group activities outside the Climate Solutions business area are not affected by the transaction.

Viessmann Group remains independent family business

The Viessmann Group will continue to remain an independent family business in full ownership of the Viessmann entrepreneurial family. It will continue its entrepreneurial activities following its purpose of co-creating living spaces for generations to come.

Going forward, it will be building an ecosystem that will focus on CO2 avoidance, CO2 reduction and CO2 capturing, beyond the HVAC sector.

The Viessmann family will reinvest the primary proceeds from the combination with Carrier into the Viessmann Group, but also a significant amount allocated to its philanthropic activities.

Moreover, the family business will retain full ownership of its iconic brand. While Carrier will license and grow the Viessmann brand in the HVAC industry, the Viessmann Group will expand its brand reach into other sectors.

It will also maintain a close collaboration with Carrier across company boundaries at the operational level.

Viessmann Group Chairman of the Board of Directors Prof. Dr. Martin Viessmann: “We are taking the next step in the history of our family business by moving beyond heating solutions towards an ecosystem of strong co-creators who take responsibility for future generations by fostering solutions in all facets of sustainable clean energy.

"We are creating the best conditions to fulfill our purpose by combining the best of two worlds: A broadly positioned Viessmann Group and a global partnership with Carrier for the Climate Solutions business area.”

Viessmann Group CEO Max Viessmann: “Global climate change is progressing quickly and our 1.5 degree climate goal is getting out of reach.

"As a solution-oriented family company, we see our responsibility in making more positive contributions against the negative trend of climate change – above and beyond the HVAC sector. Therefore, we will support, foster and focus on all aspects, solutions and technologies that avoid, reduce or capture CO2 emissions.

"On this journey, we will align everything we do along our purpose of co-creating living spaces for generations to come. Following this ambition, we will also handover a family business to the next generations that is stronger, broader and more diverse than ever before.”

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