Paul Hastings Advises on $3 Billion Fire Business Deal
Deal News | Dec 10, 2024 | Paul Hastings
Paul Hastings LLP served as the legal advisor to financing sources for Lone Star Funds in its $3 billion acquisition of the Commercial and Residential Fire business of Carrier Global Corporation. The acquisition led to the formation of Kidde Global Solutions, a new leader in fire and life safety solutions. The advising team at Paul Hastings was led by finance partners Marc Lashbrook, David Barash, and Josh Zelig, along with partner Daniel Nicholas, and associates Cara Armani, Celia Scherman, and Ellen Lee. Paul Hastings is recognized globally for its expertise in finance, M&A, and legal advisory services.
Sectors
- Legal Services
- Fire & Safety Equipment
- Private Equity
Geography
- United States – The acquisition involves Carrier Global Corporation and Lone Star Funds, both of which are based in the United States.
- Global – The newly formed Kidde Global Solutions is described as a world leader, indicating its intended global reach and influence in the fire and safety sector.
Industry
- Legal Services – Paul Hastings provided legal advisory services in the transaction, highlighting the firm's expertise in managing complex legal needs for mergers and acquisitions.
- Fire & Safety Equipment – The transaction involved Carrier Global's Commercial and Residential Fire business, which is a key player in fire and life safety solutions.
- Private Equity – Lone Star Funds is a private equity firm that completed the acquisition, demonstrating its investment in the fire and safety industry.
Financials
- $3 Billion – The purchase price of the Commercial and Residential Fire business of Carrier Global Corporation.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Paul Hastings LLP | Legal Advisor | Company | Paul Hastings served as the legal advisor to the financing sources for the acquisition. |
| Lone Star Funds | Buyer | Company | Lone Star Funds is the private equity firm that acquired Carrier Global's fire business. |
| Carrier Global Corporation | Vendor | Company | Carrier Global Corporation sold its Commercial and Residential Fire business. |
| Kidde Global Solutions | Target Company | Company | The entity formed as a result of the acquisition, specializing in fire and life safety solutions. |