Schoenherr, working alongside Linklaters and Paul Weiss Rifkind Wharton & Garrison, has advised the Carrier Global Corporation on its acquisition of Viessmann Climate Solutions. Hengeler Mueller and, reportedly, Davis Polk & Wardwell advised Viessmann Climate Solutions.
The transaction remains contingent on regulatory approval. According to Hengeler Mueller, “Carrier Global will acquire Viessmann Climate Solutions, the largest business area of the Viessmann Group, in a cash and stock transaction for an enterprise value of EUR 12 billion. The Viessmann Group will become the largest private shareholder in Carrier Global.”
Based in Palm Beach Gardens, Florida, the Carrier Global Corporation is an American multinational heating, ventilation and air conditioning, refrigeration, and fire and security equipment company with over 52,000 employees serving customers in 160 countries on six continents.
According to Schoenherr, “family company Viessmann was founded in 1917 as a local garage for heating technology. Today, it has become a global, broadly diversified group with over 14,500 members and a total annual revenue of over EUR 4 billion. The Climate Solutions and Refrigeration Solutions business areas include sustainable solutions in heating, cooling, water, and air quality.”
“The acquisition will help Carrier create a comprehensive and differentiated suite of sustainable technologies and services in the energy transition market, transforming the company into a global leader in intelligent climate and energy solutions in all major geographies,” Schoenherr informed.
Schoenherr’s team included Austria-based Partners Roman Perner, Constantin Benes, and Volker Weiss, Attorneys at Law Michael Marschall, Franziska Oczlon, and Lisa Todeschini, and Associates Verena Krikler and Michael Sturmair; Hungary-based Partner Kinga Hetenyi, Attorney at Law Adrian Menczelesz, and Associates Zsofia Rideg, Noemi Suller, Aron Hegyi, and Noemi Csiki; Romania-based Partner Madalina Neagu and Senior Attorney at Law Mihaela Popescu; Serbia-based Attorney at Law Djordje Trifunovic and Associate Milos Jokic; Czech Republic-based Partner Vladimir Cizek and Attorney at Law Rudolf Bicek; and Slovakia-based Attorney at Law Jan Farbiak and Associate Jakub Bernik.
The Hengeler Mueller team was led by Duesseldorf-based Partners Matthias Hentzen and Thomas Meurer, with further team members from the firm's offices in Duesseldorf, Frankfurt, Munich, and Berlin.