This is about both climate and cost.
Emerson Electric agreed to sell a 55% stake in its climate technology business, which mostly sells Copeland-branded HVAC compressors and related products, to Blackstone at a $14 billion enterprise value.This is about both climate and cost, with Blackstone betting that residential and commercial building owners will pay to upgrade system efficiency.
It's also part of a broader divestiture push by Emerson, following the sale of its InSinkErator food-waste disposal business to Whirlpool and of its Therm-O-Disc thermostats unit to One Rock Capital Partners.St. Louis-based Emerson will retain a 45% stake in the climate tech business, which generated $5 billion of fiscal 2022 sales.
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