The heating and air conditioning technology provider generated four billion euros in 2022
(Photo: Reuters)
Munich The Hessian family company Viessmann is apparently about to sell billions to the USA. The air conditioning manufacturer Carrier Global from Florida is in advanced negotiations about a takeover of the specialist for heating, air conditioning and heat pumps from Allendorf an der Eder, two people familiar with the plans told the Reuters news agency.
The cooling technology division is outside, said one of the insiders. Viessmann is valued at more than twelve billion dollars (equivalent to eleven billion euros) including debt, said the other insider. The sale could become official this week.
The Wall Street Journal (WSJ) had previously reported on the plans. According to the report, the family will receive part of the purchase price in shares and part in cash. Viessmann declined to comment on the information. Carrier could not immediately be reached for comment.
Heat pumps are considered to be the preferred form of heating for the future, especially in Germany, since the energy transition is supposed to put an end to gas and oil heating systems according to the federal government’s ideas.
The company, founded in 1917 by Johann Viessmann, increased its sales last year by 19 percent to four billion euros, a good half of which was generated abroad. Both the chairmanship of the board of directors and the chief post of the supervisory board are in the hands of the family. Viessmann employs around 14,500 people. With the takeover, Carrier Global intends to internationalize its business. Of the last $20.4 billion in sales, 60 percent come from North and South America and only 23 percent from Europe.
More: Viessmann posts record sales in 2022