Carrier Global Corporation Sells Riello Business to Ariston Group in Strategic Move

Carrier Global Corporation's Strategic Divestment of Riello

In a significant move within the climate solutions industry, Carrier Global Corporation, a prominent player known for its innovative climate and energy solutions, has announced that it will divest its Riello business to the Ariston Group. This decision comes after a thorough bidding process, positioning Ariston as the optimal candidate to support Riello’s future growth trajectory.

Company Leaders' Insights

David Gitlin, Chairman and CEO of Carrier, expressed confidence in this direction, stating, "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." Gitlin emphasized the rich legacy and skilled workforce of Riello, indicating that the agreement reflects Carrier’s commitment to disciplined portfolio management while focusing on differentiated climate and energy solutions.

Paolo Merloni, Executive Chairman of Ariston Group, welcomed Riello by acknowledging its esteemed brands and technical prowess. He stated, "We are honored to welcome Riello into our organization. Riello's respected brands, technical expertise and strong positions in its core markets make it highly complementary to Ariston Group."

Financial Details of the Transaction

The transaction is projected to yield approximately $430 million in gross proceeds for Carrier. The corporation plans to utilize the net proceeds for general corporate purposes, including share repurchase programs that align with its capital management strategies. The agreement is anticipated to finalize in the first half of 2026, pending customary closing conditions and regulatory approvals.

Background on Carrier and Ariston Group

Carrier Global Corporation, based in Palm Beach Gardens, Florida, has positioned itself as a leader in intelligent climate and energy solutions, focusing on innovations that enhance comfort and sustainability across various sectors. Since its inception in 1902, Carrier has continuously sought to improve the lives of individuals and communities through advanced climate solutions, ensuring the safe transport of essential items like food and life-saving medicines.

On the other hand, the Ariston Group, a global leader in sustainable climate and water comfort technologies, operates on a large scale with revenues nearing 2.6 billion euros in 2024. With over 10,000 employees across 40 countries, Ariston is committed to environmentally responsible solutions, evidenced by its wide range of heating technologies and renewable energy products. Together, both companies aim to leverage their strengths for the benefit of stakeholders involved.

Moving Forward

The sale of Riello is a strategic milestone reflecting Carrier's evolving focus on core business areas and innovative climate solutions. This realignment may enhance both Carrier's and Ariston’s capabilities within the climate control sector, promoting sustainability and technological advancement. As the deal nears completion, the industry anticipates observing significant advancements and value creation stemming from this major business transaction.

In conclusion, this transition marks not just a change in ownership but also a promising new chapter for Riello, as it is set to thrive under Ariston's stewardship, contributing to the ongoing journey towards sustainable energy solutions across the globe.