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Blackstone set to acquire majority stake in Emersion's climate technologies business

Blackstone will buy the majority stake in the climate technologies business of Emerson Electric Co in a transaction valued at US$ 14 billion. The latter will use the upfront deal payment of US$ 9.5 billion to buy more firms with the main focus on automation sector.

Due to the shortages in labor force, businesses are moving towards automating their processes and Emersion is no exception to it. The company is strengthening its commitment to its software strategies. It had merged its software division with Aspen Technology in May by acquiring 55% stake for US$6.0 billion in cash. Read more on this... 

The Climate Technologies business, which includes Copeland compressor business and the entire portfolio of products and services across all HVAC and refrigeration, reported approximately US$ 5.0 billion net sales in fiscal 2022.

Emersion will continue to hold 45% stake in the climate technologies business. The main objective of this business is to enable customers and businesses to reduce their carbon footprints orienting them towards energy-efficient heating and cooling products. More on this...

The deal is expected to close in the first half of 2023.

Emersion reported an 8% growth in its net sales at US$5.4 billion, while its GAAP EPS was US$ 1.24, up 12 percent in the fourth quarter compared to the same period last year.  

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