# Blackstone completes majority stake acquisition of Emerson Climate Technologies, renamed Copeland

Blackstone funds completed the acquisition of a majority stake in Emerson's Climate Technologies business, valued at $14.0 billion, which will be renamed Copeland. Emerson receives about $9.7 billion in upfront proceeds and keeps 40% common equity.

- Type: Acquisition
- Announced: 2023-05-31
- Where: St. Louis, United States
- Value: $14.0B
- Status: completed
- Products: compressors, controls, thermostats, valves, monitoring solutions
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Copeland](https://endata.com/companies/8190.md)
- [Emerson](https://endata.com/companies/355.md) (partner)
- [Blackstone Group](https://endata.com/companies/2364.md) (acquirer)
- [Copeland](https://endata.com/companies/8190.md) (partner)
- [Copeland](https://endata.com/companies/8190.md) (target)

## Sources

- [copeland.com](https://www.copeland.com/en-us/news/blackstone-completes-acquisition-of-majority-stake-of-copeland), 2023-05-31: "private equity funds managed by Blackstone have completed the previously announced acquisition of a majority stake in Emerson's Climate Technologies business in a transaction valuing the business at $14.0 billion."
- [coolingpost.com](https://www.coolingpost.com/world-news/emerson-business-to-be-renamed-copeland/), 2023-05-31: "The new standalone business will be named Copeland, after its compressor brand."
- [mechanicalbusiness.com](https://mechanicalbusiness.com/2023/06/05/emerson-sells-climate-technologies/), 2023-06-05: "The sale of Climate Technologies includes the Copeland compressor division and the entire profile of HVAC/R products and services."
- [valve-world-americas.com](https://valve-world-americas.com/blackstone-completes-acquisition-of-majority-stake-of-copeland-formerly-emerson-climate-technologies/), 2023-06-12: "private equity funds managed by Blackstone have completed the previously announced acquisition of a majority stake in Emerson's Climate Technologies business in a transaction valuing the business at $14.0 billion."
- [achrnews.com](https://www.achrnews.com/articles/153333-exclusive-q-and-a-with-copeland-ceo-ross-b-shuster), 2023-07-26: "On May 31, Emerson announced its intention to rebrand its Emerson Climate Technologies business as Copeland."

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