Edwards

Energy

Portfolio Transformation at Carrier with Acquisition of Viessmann & Exit of Fire & Security Businesses

April 26th, 2023
Security

Carrier HVAC and Fire & Security 2022 Business Examined

February 27th, 2023
Airthings Air Quality Commercial Real Estate
Smart Buildings

Airthings Commercial Building Business Examined

Airthings is a Norwegian tech company focused on air quality sensing that is making a name for itself on a global stage. Recent deals with the likes of Carrier, Walmart, and Home Depot have bolstered hardware sales channels, while newer SaaS approaches are improving their results. However, the past year has had its challenges as […]

Security

ADT Commercial Fire and Security Business Examined

In this Research Note, we examine the ADT Commercial fire and security business, based on their 2021 Results, 1st March 2022 Investor Day presentation and strategy throughout 2021. ADT is the provider of security alarms and monitoring services for the smart home and small business sector in the United States. With revenues of $5.3 billion in 2021, ADT reports its […]

Smart Buildings

Carrier Building Automation and Fire & Security Businesses Examined

Carrier Global Corporation, established as an independent public company, following its spinoff from United Technologies Corp. in April 2020, is one of the top three global HVAC equipment manufacturers. In this Research Note, we examine two of its adjacent business areas – the Fire & Security and Building Automation businesses, based on Carrier’s 2021 10K Report, […]

Security

UTC / GE Security – Good Sale, Good Buy and More to Come

On 12th November, UTC announced that it had agreed to purchase GE Fire & Security for $1.82 billion which will be the biggest security and safety deal recorded in the last five years. Many column inches have since been written about why this was such a good deal for UTC but in the short term […]

Security

UTC Fire & Security Goes for Growth with Acquisition of GE Security

UTC announced today that they will buy GE Security for $1.8 billion. The full details have not yet been disclosed but this looks to be an exit price based on sales revenue of around unity. This seems like a good buy particularly considering that it cost GE Security at least $2 billion to assemble the […]

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