Carrier Global Corporation has announced a definitive agreement to sell its Riello business to Italy-based Ariston Group. The deal follows a competitive bidding process and aligns with Carrier’s strategy to focus on climate and energy solutions.
Riello, known for its heating products and systems, will join Ariston’s portfolio, which includes a wide range of thermal comfort solutions. Carrier stated it expects to receive gross proceeds of approximately $430 million from the transaction and plans to use the net proceeds for general corporate purposes, including share repurchases.
The transaction is expected to close in the first half of 2026, subject to customary regulatory approvals and consultation processes.
“After completing a comprehensive and competitive bidding process, we determined that Ariston Group is the right owner to guide Riello’s next phase of growth,” said David Gitlin, Chairman and CEO of Carrier.
“We are honored to welcome Riello into our organization,” said Paolo Merloni, Executive Chairman of Ariston Group. “Riello’s respected brands, technical expertise and strong positions in its core markets make it highly complementary to Ariston Group.”
