Lone Star completed the acquisition of commercial and residential fire business from Carrier for $3bn.

Lone Star, a private equity firm, completed the acquisition of commercial and residential fire business from Carrier, an intelligent climate and energy solutions provider, for $3bn. "The sale of our Commercial and Residential Fire business marks a defining step in our planned business exits critical to our transformational journey to becoming a focused, agile, higher-growth, pure-play company dedicated to creating a more sustainable world for generations to come. I am so proud of what our deal and business teams have accomplished. We now have executed deals on all our divestitures, all signed within about a year of announcement, with a combined value of over $10bn, representing a mid-teens EBITDA multiple in aggregate. This reflects tremendous dedication by so many, and I could not be more appreciative of our team's tireless efforts and great work," David Gitlin, Carrier Chairman & CEO.