Blackstone and Emerson announced that private equity funds managed by Blackstone (“Blackstone”) have completed the previously announced acquisition of a majority stake in Emerson’s Climate Technologies business in a transaction valuing the business at $14.0 billion. This closing marks a significant milestone in the HVAC and refrigeration (HVACR) industry leader’s journey to advance the next generation of climate technologies.
The new standalone business will be named Copeland – building on the brand’s 100-year legacy, global recognition and influence across the HVACR industry. As a standalone company focused on serving the global HVACR market, Copeland’s product portfolio includes market-leading compressors, controls, thermostats, valves, software and monitoring solutions for residential, commercial and industrial customers. Copeland had fiscal 2022 net sales of $5.0 billion.
Copeland is poised to build on its iconic brand and trusted expertise to shape the future of climate technology. The company’s products, expertise and innovation play a key role in improving the energy efficiency of heating and cooling solutions – including the rapidly growing market for electric heat pumps and climate-friendly refrigerants, which are seeing strong demand and global adoption given their potential to reduce the environmental impact and carbon emissions of HVAC systems.
Copeland will continue to operate from St. Louis, while maintaining a global footprint to serve customers in Europe, Latin America, Asia, Middle East and Africa.
Courtesy of Emerson.