According to the company’s press release via PR Newswire, Carrier Global Corporation (NYSE: CARR) announced it has signed a definitive agreement to sell its NORESCO business to OPTERRA Energy Services. Notably, OPTERRA is a subsidiary of LS Power, not ENGIE North America. The transaction is expected to close shortly.
Executive Commentary
Carrier Chairman and CEO David Gitlin said the sale reflects Carrier’s continued commitment to portfolio simplification, allowing the company to stay focused on growth and innovation within its core businesses. He thanked the NORESCO team for its contributions to Carrier and expressed confidence that NORESCO is well positioned under OPTERRA to keep delivering energy-efficiency solutions and long-term value to its customers.
Deal Advisors
Jefferies LLC is serving as financial advisor to Carrier on the transaction, with Akerman LLP serving as external legal counsel.
About Carrier
Carrier Global Corporation describes itself as a global leader in intelligent climate and energy solutions, with a history dating back to inventing modern air conditioning in 1902. The company focuses on climate control, air quality, and transportation solutions across critical industries, including the safe transport of food and life-saving medicines.
The NORESCO sale follows other recent portfolio moves by Carrier, including its acquisition of intelligent building technology company 75F and the appointment of Neil Barua to its board of directors.