# Carrier agrees to acquire Guangdong Giwee Group

Carrier has signed agreements to acquire Guangdong Giwee Group, a China-based HVAC manufacturer, to expand its VRF and light commercial businesses. The acquisition is expected to close in 2021.

- Type: Acquisition
- Announced: 2021-04-19
- Where: China
- Status: announced
- Capacity: 1.5 million sets per year
- Products: variable refrigerant flow systems, modular chillers, light commercial air conditioners
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Carrier Corp](https://endata.com/companies/5132.md) (acquirer)
- [Carrier Global Corporation](https://endata.com/companies/7380.md) (acquirer)
- [Guangdong Giwee Group](https://endata.com/companies/54529.md) (target)
- [Guangdong Chigo Heating & Ventilation Equipment Co Ltd](https://endata.com/companies/54548.md) (target)

## Sources

- [corporate.carrier.com](https://www.corporate.carrier.com/news/news-articles/carrier-agrees-to-acquire-guangdong-giwee-group-a-chinabased-hvac-manufacturer.html), 2021-04-19: "This will be an excellent strategic fit and will support our growth strategy in the global VRF and light commercial businesses."
- [coolingpost.com](https://www.coolingpost.com/world-news/carrier-agrees-acquisition-of-chinese-ac-manufacturer/), 2021-04-19: "Carrier has signed agreements to acquire Guangdong Giwee Group (Giwee Group) and its subsidiaries, including Guangdong Chigo Heating & Ventilation Equipment Co Ltd (GCHV)."
- [corporate.carrier.com](https://www.corporate.carrier.com/news/news-articles/202106_carrier-completes-acquisition-guangdong-giwee-group-chinabased-hvac-manufacturer.html), 2021-06-03: "Through this acquisition, we are building on a commitment to expand Carrier's geographic footprint and market position."
- [refindustry.com](https://refindustry.com/news/carrier-completes-acquisition-of-guangdong-giwee-group/), 2021-06-03: "Through this acquisition, we are building on a commitment to expand Carrier’s geographic footprint and market position."
- [vietnamstar.net](https://vietnamstar.net/carrier-completes-acquisition-of-guangdong-giwee-group-china-based-hvac-manufacturer/), 2021-06-03: "Carrier today announced that it has completed the acquisition of a controlling stake of Guangdong Giwee Group (Giwee Group) and its subsidiaries."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.