Copeland – the new standalone company
By HPAC MagazineHPAC General HVAC Systems Refrigeration compressors Copeland HVAC/R mergers and acquisitions
Previously Emerson’s Climate Technologies business, Blackstone has closed its majority position acquisition, valuing the business at US$14.0 billion.
Blackstone and Emerson have closed on the previously announced acquisition of a majority stake in Emerson’s Climate Technologies business in a transaction valuing the business at US$14 billion.
The new standalone business will be named Copeland and carry a product portfolio including compressors, controls, thermostats, valves, software and monitoring solutions for residential, commercial and industrial customers.
Copeland is owned by a joint venture between Blackstone and Emerson, with Blackstone having a controlling interest of 60%. In the transaction, Emerson received approximately $9.7 billion at close along with its 40% non-controlling common equity in the business.