Private equity funds managed by Blackstone Private Equity will purchase Emerson’s 40% common equity ownership in the joint venture, while Copeland will repurchase the seller’s note.
CEO Ross Shuster called Copeland “the newest 100-year-old company in the HVAC industry.” After 37 years as part of Emerson, Copeland became a stand-alone company last year after Emerson reached a deal with an investment firm.
When the Woosh air quality monitor and smart air filter are paired with a Sensi smart thermostat, users can transform an HVAC system into an air purifier for the entire home.
The change comes as the industry anticipates accelerated adoption of CO2 refrigeration technology being driven by food retail businesses pledging sustainability targets and needing to comply with environmental regulations.
The Copeland-Enersponse collaboration offers a chance for food retailers to improve energy conservation efforts through involvement in demand-response initiatives that assist in stabilizing the power grid during times of high electricity consumption.
Blackstone’s multi-billion dollar deal with Emerson aims to build on Copeland’s 100-year legacy, global recognition, and influence across the HVACR industry
Ross B. Shuster, CEO, Copeland, discusses Blackstone’s investment into the company, how the transaction will impact the company’s HVAC offerings, and more.
We Love STEM Day is designed to expose students to the roles that science, technology, engineering, and mathematics (STEM) play in their everyday lives and, potentially, in their future careers, the company said.