M&A Deal Summary

Haier Acquires Carrier Commercial Refrigeration

On October 2, 2024, Haier acquired machinery company Carrier Commercial Refrigeration from Carrier for 775M USD

Acquisition Highlights
  • This is Haier’s 1st transaction in the Machinery sector.
  • This is Haier’s 2nd largest (disclosed) transaction.
  • This is Haier’s 1st transaction in France.

M&A Deal Summary
Date 2024-10-02
Target Carrier Commercial Refrigeration
Sector Machinery
Buyer(s) Haier
Sellers(s) Carrier
Deal Type Divestiture
Deal Value 775M USD

Target

Carrier Commercial Refrigeration

Rueil-Malmaison, France
Carrier Commercial Refrigeration specializes in high-efficiency, sustainable refrigeration solutions for various commercial and industrial applications. Carrier Commercial Refrigeration is based in Rueil-Malmaison, France.

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Buyer(S) 1

Buyer

Haier

Qingdao, China
Category Company
Founded 1984
Sector Consumer Products
Employees112,458
Revenue 261.4B CNY (2023)
DESCRIPTION

Haier is a manufacturer and distributor of home appliances. Haier provides refrigerators, freezers, washing machines, dryers, household, and commercial air-conditioners, purifiers, fresh air systems, electric water heaters, gas water heaters, solar water heaters, heat pump water heaters, vacuum cleaners. Haier was founded in 1984 and is based in Qingdao, China.

DEAL STATS #
Overall 3 of 3
Sector (Machinery) 1 of 1
Type (Divestiture) 3 of 3
Country (France) 1 of 1
Year (2024) 2 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-18 Kwikot

Benoni, South Africa

Kwikot is a water heater business that manufactures and supplies geysers, heat pumps, water heaters & more to plumbing merchants. Kwikot is based in Benoni, South Africa.

Buy R2.5B

Seller(S) 1

SELLER

Carrier

Palm Beach Gardens, Florida, United States
Category Company
Founded 2019
Sector Machinery
Employees53,000
Revenue 22.1B USD (2023)
DESCRIPTION
Carrier research center in Jupiter, Florida.
Carrier research center in Jupiter, Florida.

Carrier is a producer of heating, air-conditioning and refrigeration solutions. Carrier provides sustainable solutions, integrating energy efficient products, building controls, and energy services for residential, commercial, retail, transport and foodservice customers. Carrier was founded in 2019 and is based in Palm Beach Gardens, Florida.

DEAL STATS #
Overall 13 of 13
Sector (Machinery) 3 of 3
Type (Divestiture) 10 of 10
Country (France) 1 of 1
Year (2024) 2 of 2
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-05 Carrier - Industrial Fire Business

Palm Beach Gardens, Florida, United States

Carrier's Industrial Fire business is a fire detection and suppression solution for high-hazard applications across verticals such as critical infrastructure, oil and gas, marine, and clean energy. Carrier's Industrial Fire business is based in Palm Beach Gardens, Florida.

Sell $1.4B
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