Key Takeaways
- • Lone Star Funds completed acquisition of Carrier Global Corporation's Commercial and Residential Fire business for $3 billion enterprise value, closing December 2, 2024 (announced August 2024).
- • Acquired business will operate as independent platform company under new name Kidde Global Solutions, headquartered in Palm Beach Gardens, Florida.
- • Kidde Global Solutions portfolio includes iconic fire and life safety brands: Kidde®, Kidde Commercial™, Edwards®, GST™, Badger™, Gloria®, and Aritech™, with combined history exceeding two centuries.
- • Dan Thompson appointed President and Chief Executive Officer of Kidde Global Solutions; company positioned to accelerate growth through brand consolidation and innovation in fire safety solutions across residential and commercial markets.
- • Transaction financed through new entity LSF12 Crown Intermediate LP; Paul Hastings provided legal counsel to financing sources on the $3 billion acquisition structure.
Summary
Lone Star Funds, a leading private equity firm with significant experience in manufacturing, building products, and industrial sectors, has successfully closed its $3 billion acquisition of Carrier Global Corporation's Commercial and Residential Fire business. The transaction, initially announced in August 2024, completed on December 2, 2024, creating Kidde Global Solutions as an independent, standalone platform company. This strategic separation marks a significant step in Carrier's portfolio transformation and establishes a new entity positioned to compete as a unified force in the global fire and life safety market.
Kidde Global Solutions consolidates a portfolio of highly recognized fire safety and life safety brands spanning more than two centuries of combined operational history. The company's brand ecosystem includes Kidde®, Kidde Commercial™, Edwards®, GST™, Badger™, Gloria®, and Aritech™—each with established market presence across residential, commercial, and industrial segments globally. By unifying these brands under single ownership and operational structure, the newly formed entity aims to leverage shared expertise, eliminate redundancies, and accelerate innovation across product lines and geographic markets.
Leadership of the new entity is headed by Dan Thompson, who assumes the role of President and Chief Executive Officer. Thompson articulated the strategic vision for Kidde Global Solutions, emphasizing the company's commitment to growth acceleration through brand synergy and innovation. According to Thompson, the partnership with Lone Star Funds enables the company to "focus on accelerating growth" while leveraging "the strengths of our iconic brands along with a relentless focus on constant innovation" to develop cutting-edge safety solutions aligned with the company's mission to save lives and protect property.
The acquisition was structured through new entity LSF12 Crown Intermediate LP, with legal counsel provided by Paul Hastings to financing sources on the transaction. The deal reflects Lone Star Funds' investment thesis in industrial and building products platforms with established market positions and organic growth opportunities. For Carrier, the transaction represents completion of a strategic portfolio optimization, allowing the corporation to redirect capital and management focus toward its core competencies while divesting a mature, specialized business unit to a dedicated owner with relevant operational and financial expertise.
Kidde Global Solutions consolidates a portfolio of highly recognized fire safety and life safety brands spanning more than two centuries of combined operational history. The company's brand ecosystem includes Kidde®, Kidde Commercial™, Edwards®, GST™, Badger™, Gloria®, and Aritech™—each with established market presence across residential, commercial, and industrial segments globally. By unifying these brands under single ownership and operational structure, the newly formed entity aims to leverage shared expertise, eliminate redundancies, and accelerate innovation across product lines and geographic markets.
Leadership of the new entity is headed by Dan Thompson, who assumes the role of President and Chief Executive Officer. Thompson articulated the strategic vision for Kidde Global Solutions, emphasizing the company's commitment to growth acceleration through brand synergy and innovation. According to Thompson, the partnership with Lone Star Funds enables the company to "focus on accelerating growth" while leveraging "the strengths of our iconic brands along with a relentless focus on constant innovation" to develop cutting-edge safety solutions aligned with the company's mission to save lives and protect property.
The acquisition was structured through new entity LSF12 Crown Intermediate LP, with legal counsel provided by Paul Hastings to financing sources on the transaction. The deal reflects Lone Star Funds' investment thesis in industrial and building products platforms with established market positions and organic growth opportunities. For Carrier, the transaction represents completion of a strategic portfolio optimization, allowing the corporation to redirect capital and management focus toward its core competencies while divesting a mature, specialized business unit to a dedicated owner with relevant operational and financial expertise.
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