Carrier Global Corporation Completes the Sale of Riello Business to Ariston Group

On July 1, 2026, Carrier Global Corporation, a frontrunner in intelligent climate and energy solutions, announced the completion of the sale of its Riello business to the Ariston Group for approximately $440 million. This strategic decision demonstrates Carrier's commitment to effective portfolio management and its intent to concentrate resources on delivering enhanced climate and energy solutions for its customers.

David Gitlin, the Chairman and CEO of Carrier, remarked, "The sale of Riello reflects Carrier's disciplined portfolio management as we continue to focus our resources on delivering differentiated climate and energy solutions. Sale proceeds enhance our ability to invest in our core businesses, innovation and value creation for our customers and shareowners." In addition, he expressed gratitude for the Riello team's contributions to the company, acknowledging their dedication and efforts in fostering the business's growth. He conveyed confidence that the Ariston Group is well-equipped to lead Riello's next phase of development.

The transaction was facilitated by BofA Securities, serving as the exclusive financial advisor to Carrier, while Linklaters LLP provided external legal counsel throughout the process.

Carrier Global Corporation has been a pioneer since its invention of modern air conditioning in 1902. They are dedicated to innovation that enhances comfort, safety, and sustainability in everyday life. With ongoing advancements in the areas of climate control, air quality, and transportation, Carrier improves the lives of people around the world.

The company's strategic direction focuses on leading the industry through technology, innovation, and a commitment to customer satisfaction. From the transportation of food to life-saving medications, Carrier emphasizes the importance of safety and efficiency in its operations.

In light of the sale, Carrier plans to utilize the proceeds to reinvest in core business areas, fueling innovation and expanding its technological capabilities. With a commitment to environmental sustainability, Carrier aims to continue developing climate solutions that meet modern challenges. This divestiture reflects a broader trend among major corporations to streamline operations and sharpen their focus amidst ever-evolving market demands.

As the Ariston Group takes over the St. Louis, Missouri-based business, their expertise is anticipated to drive Riello towards new opportunities for growth and expansion in the coming years. This acquisition aligns with Ariston's mission to bolster its portfolio and increase market reach in the climate solutions industry.

For more information about Carrier Global Corporation and their offerings, visit their official website at www.carrier.com or follow them on social media.

In summary, the sale of Riello marks a significant milestone for Carrier, allowing the company to recalibrate and focus on core competencies, while empowering Ariston Group to elevate Riello’s growth trajectory amidst a competitive market landscape. Carrier remains oriented towards innovation, sustainability, and customer-centric solutions as it looks toward the future.