Emerson Spins off Climate Technologies as Copeland
Blackstone and Emerson announced that private equity funds managed by Blackstone have completed the previously announced acquisition of a majority stake in Emerson’s Climate Technologies business in a transaction valuing the business at $14 billion.
The new standalone business will be named Copeland – building on the brand’s 100-year legacy, global recognition and influence across the HVACR industry. As a standalone company focused on serving the global HVACR market, Copeland’s product portfolio includes compressors, controls, thermostats, valves, software and monitoring solutions for residential, commercial and industrial customers. Copeland had fiscal 2022 net sales of $5 billion.