Kidde Global Solutions Acquired by Affiliate of Lone Star Funds
PALM BEACH GARDENS, Fla.--(BUSINESS WIRE)--Dec 2, 2024--
Today, Carrier Global Corporation announced it has completed the sale of its Commercial and Residential Fire business to an affiliate of Lone Star Funds® for an enterprise value of $3 billion. The purchase creates Kidde Global Solutions™, a new standalone platform company. Lone Star Funds is a leading private equity firm with a significant track record of partnering with manufacturing, building products and industrial businesses globally.
Headquartered in Palm Beach Gardens, FL, Kidde Global Solutions unifies some of the most trusted and iconic brands in fire and life safety, including Kidde®, Kidde Commercial™, Edwards®, GST™, Badger™, Gloria®, and Aritech™. With more than two centuries of combined history, these brands have been at the forefront of protecting people and property worldwide. Now, Kidde Global Solutions is set to enhance this legacy by bringing together their extensive expertise and experience to better serve customers in diverse regions and industries.
"We’re excited about our new partnership with Lone Star Funds and the opportunity to focus on accelerating growth,” said Dan Thompson, President and Chief Executive Officer of Kidde Global Solutions. “By leveraging the strengths of our iconic brands along with a relentless focus on constant innovation, we develop cutting-edge safety solutions that fulfil our mission of saving lives, protecting property and building a safer tomorrow."
Kidde Global Solutions is committed to addressing the evolving needs and challenges of fire and life safety across the globe. With an unmatched portfolio of solutions and services, the company is redefining industry standards and establishing a new benchmark for excellence in safety.
For more information about Kidde Global Solutions and its range of fire and life safety solutions, follow KGS at www.linkedin.com/company/kidde-global-solutions.
About Kidde Global Solutions
Kidde Global Solutions is a world leader in fire & life safety solutions tailored for complex commercial facilities to homes. Through iconic, industry-defining brands including Kidde, Kidde Commercial, Edwards, GST, Badger, Gloria and Aritech, we provide residential and commercial customers with advanced solutions and services to protect people and property in a wide range of applications, all around the globe. For more information, follow KGS on social media at www.linkedin.com/company/kidde-global-solutions.
About Lone Star Funds
Lone Star is a leading private equity firm advising funds that invest globally in corporate equity, credit, real estate and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized 25 private equity funds with aggregate capital commitments totaling approximately $95 billion. The firm organizes its funds in three series: the Opportunity Fund series; the Commercial Real Estate Fund series; and the U.S. Residential Mortgage Fund series. Lone Star invests on behalf of its limited partners, which include institutional investors such as pension funds and sovereign wealth funds, as well as foundations and endowments that support medical research, higher education, and other philanthropic causes. For more information regarding Lone Star Funds, go to www.lonestarfunds.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20241201081134/en/
CONTACT: Media Inquiries
Ivanette Bonilla
Ivanette.Bonilla@Carrier.com
KEYWORD: UNITED STATES NORTH AMERICA FLORIDA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FAMILY CONSUMER OTHER CONSTRUCTION & PROPERTY TECHNOLOGY CONSTRUCTION & PROPERTY OTHER MANUFACTURING OTHER CONSUMER BUILDING SYSTEMS FINANCE OTHER TECHNOLOGY MANUFACTURING
SOURCE: Kidde Global Solutions
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