Emerson Electric Co. (“Emerson”) has sold a majority stake in Emerson Climate Technologies to Blackstone. The transaction values Emerson Climate Technologies at USD 14bn. The sale means that Blackstone will be the majority stakeholder in Emerson Climate Technologies with 60%, while Emerson keeps 40%. In connection with the sale, Emerson Climate Technologies has rebranded and is now called Copeland.
Copeland’s product portfolio is comprised of market-leading compressors, controls, thermostats, valves, software and monitoring solutions, etc. for the HVACR industry (heating, ventilation, air conditioning and refrigeration).
Copeland is based in St. Louis, USA, and has more than 100 years’ experience. That, in combination with 18,000 employees and two strong shareholders, makes Copeland ready to focus on expanding its market-leading position and on developing the next generation of sustainable climate technology solutions.
Accura advised Emerson in connection with the Danish part of the transaction.