Emerson Sells Copeland Division
Copeland Lebanon Plant

Emerson this morning announced a definitive agreement under which it will sell a majority stake in its Climate Technologies business to private equity funds managed by Blackstone in a transaction valuing Climate Technologies at $14.0 billion. Blackstone is the world’s largest alternative asset manager.

The standalone Climate Technologies business includes the market-leading Copeland compressor business and the entire portfolio of products and services across all HVAC and refrigeration end-markets, representing approximately $5.0 billion of fiscal 2022 sales.

The transaction has been unanimously approved by Emerson’s Board of Directors and is expected to close in the first half of the calendar year 2023, subject to regulatory approvals and customary closing conditions.

No information has been released on how the transfer will affect the Lebanon plant operations.