We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.

logo
  • Engineers & Specifiers
  • Contractors & Installers
  • Wholesalers & Distributors
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Free Subscription
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • PRODUCTS
    • Bath & Kitchen
    • Fire Protection
    • HVAC
    • Hydronics/Radiant
    • Plumbing
    • PVF
    • Tools
  • PROJECTS
    • Commercial
    • Green Building
    • MRO/Retrofit
    • Remodeling
    • Residential
  • HOW TO
    • Design
    • Fire Protection
    • Legal Matters
    • Management
  • BUSINESS
    • Buying Groups
    • Technology
    • Associations
  • CODES & STANDARDS
    • ANSI
    • ASHRAE
    • ASSE
    • Regulations
    • Green Building
    • IAPMO
    • ICC
    • NFPA
  • RESOURCES
    • Media Kit
    • Advertise
    • Contact Us
    • Classifieds
    • Digital Editions
    • Behind the Wall
    • Webinars
    • AHR Live 2023
  • PODCASTS
  • DIGITAL EDITIONS
Home » Carrier parent takes majority stake in Riello

Carrier parent takes majority stake in Riello

December 28, 2015
No Comments

UTC, owner of air conditioning manufacturer Carrier, is to acquire a majority stake in Italian HVAC company Riello.

UTS subsidiary United Technologies Holdings Italy Srl yesterday signed an agreement to acquire approximately 70% of the family-owned Riello Group, a leader in providing products and services for the heating segment that operates in over 60 countries.

Following the closing of the transaction, the Riello family will continue to own the balance of the shares of the company and Riello Group will become part of UTC’s Climate, Controls & Security division, a leading provider of heating, ventilating, air conditioning and refrigeration systems.

“We believe Riello Group, with its strong brands and product offering, provides an excellent platform for UTC Climate, Controls & Security to expand its presence in the heating segment in Europe,” said Ross Shuster, president, international operations, UTC Climate, Controls & Security.

The transaction is expected to close in early 2016.

Contractors & Installers Industry Community News Mechanical
  • Related Articles

    Moen Takes Majority Stake in Smart Water Start-Up Flo Technologies

    Comfort Systems invests in online technical training with stake in online trainer

    Kassel Acquires Ownership Stake in Gutridge Plumbing

  • Related Products

    CEU Webinar

    Directory Listing - Premium

  • Related Events

    Ninth Annual Celebrating Women in the Mechanical Trade Industry Luncheon

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular

  • Chicago Plumber’s Union Dyes Chicago River Green for St. Patrick’s Day 2023

  • Everything You Wanted to Know About Orangeburg Pipe (But Were Afraid To Ask)

  • Vote Now! Plumbing Design of the Year: A Readers’ Choice Award

  • The Basis for Most Plumbing Codes

Featured Video

Caleffi video thumb

The Gold Standard: Separation with NO Compromise

Industry Events

  • 21Mar

    NFMT 2023

    Baltimore, MD
  • 26Mar

    MCAA 2023 Annual Convention

    Phoenix, AZ
  • 29Mar

    2023 SFPE European Conference & Expo

    Berlin ,
More Events

Subscribe to our newsletters & stay updated

Subscribe & Learn More

  • Tw03 2023 cover
    Learn More
  • Pe03 2023 cover
    Learn More
  • Phc03 2023 cover
    Learn More
  • Es 2022
    Learn More
Subscribe

More from PHCP Pros

  • Editorial Team
  • Home
  • Contact Us
  • About
  • Advertise

Follow Us

© 2023 All Rights Reserved

Design, CMS, Hosting & Web Development | ePublishing