ST. LOUIS and NEW YORK – Emerson announced that it has completed the sale of its remaining interest in the Copeland joint venture, the 40% common equity ownership stake, to private equity funds managed by Blackstone (“Blackstone”).
As a standalone company focused on serving the global HVAC and refrigeration market, Copeland’s product portfolio includes market-leading compressors, controls, thermostats, valves, software, and monitoring solutions for residential, commercial, and industrial customers.
“This transaction is a key step to simplify our portfolio and enhance Emerson’s focus as a global leader in automation,” said Lal Karsanbhai, President and Chief Executive Officer of Emerson. “We believe now is the right time to execute our plans to fully exit the Copeland business. This agreement with Blackstone provides certainty and portfolio simplification to Emerson shareholders, while enhancing our focus on executing in our attractive, high growth automation markets.”
More information can be found here.
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