Carrier Global To Sell Its Riello Business To Ariston Group; Carrier Expects Gross Proceeds From The Transaction Of ~ $430M

Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced that it has entered into a definitive agreement to sell its Riello business to Ariston Group.

 

"After completing a comprehensive and competitive bidding process, we determined that Ariston Group is the right owner to guide Riello's next phase of growth," said Carrier Chairman & CEO David Gitlin. "Riello has a proud legacy and talented teams, and this agreement reflects our disciplined portfolio management as we continue sharpening our focus on differentiated climate and energy solutions. I am deeply appreciative of our teams' exceptional work throughout this process." 

"We are honored to welcome Riello into our organization," said Paolo Merloni, Executive Chairman of Ariston Group. "Riello's respected brands, technical expertise and strong positions in its core markets make it highly complementary to Ariston Group. We are committed to building on Riello's legacy and together, creating meaningful value for all stakeholders."

Carrier expects gross proceeds from the transaction of approximately $430 million and intends to use the net proceeds for general corporate purposes, including share repurchases, consistent with its capital allocation priorities. 

The transaction is expected to close during the first half of 2026, subject to customary closing conditions, including regulatory approvals and works council consultation processes. 

BofA Securities is acting as exclusive financial advisor to Carrier, and Linklaters LLP is acting as external legal counsel.