Carrier Global to sell commercial and residential fire business in $3 bln deal

Carrier Global Corp (CARR.N), opens new tab said on Thursday it would sell its commercial and residential fire business to an affiliate of private equity firm Lone Star Funds in a deal valued at $3 billion, pressing ahead with the divestment of non-core assets to focus on its heating and cooling equipment businesses.

The company sold its industrial fire division to Sentinel Capital Partners in March, and its security unit to Honeywell (HON.O), opens new tab last year while buying German industrial firm Viessmann’s air conditioning division.