Carrier stated that it will purchase Viessmann Climate Solutions, the largest division of the Viessmann Group, for $13.2 billion in cash and equity. Carrier claims that by purchasing Viessmann Climate Solutions, a 106-year-old privately held German company, it will get a prestigious and high-end brand in Europe, which is the market for heat pumps and energy transitions that is expanding the quickest globally.

The acquisition of Viessmann Climate Solutions represents a paradigm-shifting opportunity, according to Carrier chairman and CEO David Gitlin. The extraordinary energy shift in Europe is being driven by geopolitical factors, sustainability needs, and climate change. Government restrictions and incentives have sped up the shift, which opens up a huge, long-term economic opportunity. With its flagship brand, highly distinctive distribution network, and cutting-edge product offerings, Viessmann Climate Solutions is ideally situated to take advantage of this potential.