Why Carrier Paid $13 Billion for Viessmann Just as Europe's Heat Pump Market Cracked
Carrier acquired Viessmann Climate Solutions for €12 billion to become a pure-play climate company and gain access to 75,000 European installers. Then Germany's heat pump market collapsed. In this episode of Deal Alchemist, we unpack Carrier's portfolio transformation, the divestitures used to fund the deal, and how regulatory volatility and labor protections complicated integration. We also examine why Carrier's broader HVAC portfolio and rapid deleveraging helped protect the strategy when its European growth thesis hit an immediate test.
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