Blackstone (NYSE: BX) and Emerson (NYSE: EMR) announced that private equity funds managed by Blackstone (“Blackstone”) have completed the acquisition of a majority stake in Emerson’s Climate Technologies business in a transaction valuing the business at $14.0 billion. This closing marks a significant milestone in the HVAC and refrigeration (HVACR) industry leader’s journey to advance the next generation of climate technologies.
The new standalone business will be named Copeland – building on the brand’s 100-year legacy, global recognition, and influence across the HVACR industry.
Copeland is poised to build on its iconic brand and expertise to shape the future of climate technology.
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