Waterloo, ON — Viessmann Climate Solutions is expected to be acquired by Carrier within the next six to eight months. The announcement was leaked on April 24 but was officially announced to Viessmann leadership on April 25.
Viessmann will continue to operate under its brand and will become a significant shareholder of Carrier, with Max Viessmann, CEO of Viessmann Group, sitting on Carrier’s board of directors. The ownership transition is expected to be completed by the beginning of 2024.
“This is an exciting opportunity for Viessmann and Carrier as they work together to continue to grow in the HVAC market globally,” shared Jerry Leyte, president and general manager of Viessmann Canada, in an email to the press.
According to the letter sent to Viessmann staff by Max Viessmann and Thomas Heim, CEO of Viessmann Climate Solutions, the acquisition will help Viessmann Climate Solutions grow its foothold in other markets, such as in Asia, and it’ll help Carrier grow its reach into the European market.
The climate solutions executive board and leadership team of Viessmann Climate Solutions, led by Heim, will continue to run the business. With the acquisition, the Viessmann Group will become one of the largest shareholders in Carrier, reports Viessmann.
All Viessmann Group businesses outside the Climate Solutions business area will not be affected by the acquisition and the Viessmann Group will continue to remain an independent family business, according to Viessmann.
“Building on a traditional legacy of 106 years, it will further remain in full ownership of the Viessmann entrepreneurial family. The Viessmann Group will continue its entrepreneurial activities following its purpose of co-creating living spaces for generations to come. Going forward, it will be building an ecosystem that will focus on CO2 avoidance, CO2 reduction and CO2 capturing, beyond the HVAC sector,” reports Viessmann and Heim in their letter.