Carrier Global Corporation has signed a definitive agreement to sell its minority interest in the Alarko Carrier joint venture to Alarko Holding. Following completion, Carrier will introduce a new operating model in Türkiye and assume distribution of Carrier and Toshiba branded products, including aftermarket services.
The new model will bring together Carrier, Toshiba and Viessmann HVAC solutions across residential, light commercial and commercial segments. Carrier said the change supports its broader portfolio transformation and strategy to simplify operations, strengthen execution and bring the business closer to customers.
Following the transaction, Carrier will continue to offer its portfolio of Viessmann solutions while expanding access to Carrier and Toshiba products and aftermarket services. The company will assume responsibility for channel relationships and continue serving customers through its existing network, supported by its VCS entity.
Carrier’s Türkiye headquarters will remain in Istanbul. Carrier, Toshiba and Viessmann teams will be co-located to serve customers and partners.
“Türkiye is an important growth market for Carrier, and this step reinforces our long-term commitment to customers and partners in the region,” said Faiz Afzal, Vice President, Sales, Carrier Climate Solutions Europe. “This evolution creates one face to the customer, bringing together a broad HVAC portfolio, industry-leading service and a powerful partner ecosystem.”
The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions.