Carrier Global Corporation Completes $4.95 Billion Sale of Security Business to Honeywell

Carrier Global Corporation has successfully finalized the sale of Global Access Solutions, its security business, to Honeywell for $4.95 billion. This sale is part of Carrier's larger portfolio transformation strategy, with plans to sell off its global Commercial Refrigeration and Industrial Fire businesses in the near future. The company also aims to use the proceeds from these sales to reduce debt and resume share repurchases in 2024.

Carrier's intentions are to return to around 2x net leverage by the end of 2024. The move reflects Carrier's commitment to becoming a more focused, higher-growth company dedicated to addressing critical climate challenges. This shift comes after Carrier's recent Viessmann Climate Solutions acquisition, which is expected to have a significant impact on the company and the industry.

Carrier Global Corporation, a leading force in intelligent climate and energy solutions, is dedicated to developing sustainable solutions for the benefit of both people and the planet. The company maintains a strong focus on customer-centric innovation and a diverse, world-class workforce. The sale of the security business is a significant milestone in Carrier's ongoing efforts to reshape its portfolio and drive growth.