A Majority Stake in Climate Technologies Business Being Sold by Emerson

Author photo: Harry Forbes
ByHarry Forbes
Company and Product News

Emerson announced a definitive agreement under which it will sell a majority stake in its Climate Technologies business to private equity funds managed by Blackstone in a transaction valuing Climate Climate TechnologiesTechnologies at $14.0 billion. Emerson will receive upfront, pre-tax cash proceeds of approximately $9.5 billion while retaining a non-controlling ownership interest in a new standalone joint venture.

The standalone Climate Technologies business includes the Copeland compressor business and the entire portfolio of products and services across all HVAC and refrigeration end-markets, representing approximately $5.0 billion of fiscal 2022 sales.

The transaction marks a significant milestone in Emerson’s journey to create a higher value, cohesive industrial technology portfolio and to become a pure-play global automation company serving a diversified set of end markets. Emerson, together with AspenTech, has the industry’s most comprehensive portfolio of advanced automation technologies and software.

As a pure-play automation company, Emerson will be positioned for higher growth, with strong, differentiated capabilities to help customers pursue their sustainability and productivity objectives in process, hybrid and discrete industries.


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