Carrier Global Corporation has signed a definitive agreement to sell its NORESCO business to OPTERRA Energy Services, a subsidiary of LS Power. The agreement covers Carrier’s energy services and performance contracting business, and the transaction is expected to close shortly, subject to customary conditions.
Carrier said the sale reflects its continued commitment to portfolio simplification, allowing the company to remain focused on growth and innovation within its core climate and energy solutions businesses.
The move continues a broader effort by Carrier to sharpen its focus on the segments most central to its long-term strategy, as the company works to streamline its portfolio around the businesses it sees as best positioned for growth.
Support: Jefferies LLC is serving as financial advisor to Carrier on the transaction, with Akerman LLP serving as external legal counsel.
KEY QUOTE:
“The sale of NORESCO represents Carrier’s continued commitment to portfolio simplification, allowing us to remain laser-focused on growth and innovation within our core businesses. I want to thank the NORESCO team for their dedication and contributions to Carrier. We are confident that with OPTERRA, NORESCO is exceptionally well-positioned to continue delivering energy-efficiency solutions and long-term sustainable value to its customers.”
David Gitlin, Chairman and CEO, Carrier
