Lone Star Funds—a private equity firm headquartered in Dallas with offices in 10 cities around the world—has completed its acquisition of Carrier Global Corporation’s Commercial and Residential Fire business in a deal with an enterprise value of $3 billion.
As a result of the acquisition, the business will now operate as an independent company under the new name Kidde Global Solutions. The deal was originally announced in August.
Kidde Global Solutions unifies some of the “most trusted and iconic brands” in fire and life safety, including Kidde, Kidde Commercial, Edwards, GST, Badger, Gloria, and Aritech, Lone Star noted.
“Kidde Global Solutions is an industry-leading portfolio of strong brands and innovative teams with a long history of serving global customers and exciting growth opportunities,” Lone Star CEO Donald Quintin said in a statement. “We look forward to working with Kidde Global Solutions’ talented management team to further build this outstanding business.”
Citi and Bank of America advised Lone Star on the transaction.
In September, Lone Star announced the final close of its latest commercial real estate fund, Lone Star Real Estate Fund VII, L.P. (LSREF VII). Total capital available to the fund was around $2.7 billion, the firm said at the time.
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Donald Quintin has been appointed chief executive officer and global president of Dallas-based Lone Star, a global private equity firm. Quintin joined Lone Star in 2010 and has served in multiple leadership positions, most recently as president of opportunity funds overseeing the origination and operations of the Opportunity Fund and the Residential Mortgage Fund strategies. Before Lone Star, Quintin was a managing director at Merrill Lynch and managed various businesses and legacy portfolios. He began his career at Bankers Trust and then Salomon Brothers. Lone Star invests in real estate, corporate equity, credit, and other financial assets. Since the establishment…
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