Viessmann Group Takes 3.0% Stake in Carrier Global Corp

Ticker: CARR · Form: SC 13D · Filed: 2024-01-09T00:00:00.000Z

Sentiment: neutral

Topics: insider-ownership, strategic-investment, corporate-action

TL;DR

**Viessmann Group now owns 3.0% of Carrier Global, signaling a major strategic investment.**

AI Summary

Viessmann Group GmbH & Co. KG, a German heating and cooling company, has filed an SC 13D, indicating they now beneficially own 25,967,322 shares of Carrier Global Corp's common stock, representing 3.0% of the outstanding shares. This acquisition, which occurred on January 2, 2024, is a result of Carrier's acquisition of Viessmann Climate Solutions, a subsidiary of Viessmann Group. This matters to investors because it signifies a strategic partnership and a significant stake held by a major industry player, potentially influencing future corporate decisions and stock performance.

Why It Matters

This filing reveals a significant new shareholder in Carrier Global Corp, the Viessmann Group, which could influence future strategic decisions and potentially stabilize the stock through a long-term holder.

Risk Assessment

Risk Level: low — The filing indicates a strategic investment by an industry peer, which typically carries lower risk than activist investor filings.

Analyst Insight

A smart investor would monitor future communications from Carrier Global Corp regarding its integration with Viessmann Climate Solutions and any potential strategic collaborations with Viessmann Group, as this significant stake suggests a deeper partnership.

Key Numbers

25,967,322 — shares beneficially owned (the total number of Carrier Global Corp common shares held by Viessmann Group)
3.0% — percentage of class (the ownership stake Viessmann Group holds in Carrier Global Corp)
$0.01 — par value per share (the stated par value of Carrier Global Corp's common stock)

Key Players & Entities

Viessmann Group GmbH & Co. KG (company) — the reporting person acquiring shares
Carrier Global Corp (company) — the subject company whose shares were acquired
MAXIMILIAN VIESSMANN (person) — a group member associated with the reporting person
VIESSMANN BETEILIGUNGS AG (company) — a group member associated with the reporting person
VIESSMANN KOMPLEMENTAR B.V. (company) — a group member associated with the reporting person
Leo Borchardt (person) — legal counsel for the reporting person

Forward-Looking Statements

Viessmann Group will maintain its stake in Carrier Global Corp for the foreseeable future, acting as a strategic partner rather than an activist. (Viessmann Group GmbH & Co. KG) — high confidence, target: 2025-01-09
Carrier Global Corp's stock price will experience increased stability due to the presence of a significant, long-term strategic investor. (Carrier Global Corp) — medium confidence, target: 2024-07-09

FAQ

Who is the primary entity filing this SC 13D?

The primary entity filing this SC 13D is Viessmann Group GmbH & Co. KG, located at Im Birkenried 1, 35088 Battenberg, Germany.

What is the date of the event that triggered this filing?

The date of the event which required the filing of this statement was January 2, 2024.

What percentage of Carrier Global Corp's common stock does Viessmann Group GmbH & Co. KG now beneficially own?

Viessmann Group GmbH & Co. KG now beneficially owns 3.0% of Carrier Global Corp's Common Stock, par value $0.01 per share.

What is the CUSIP number for Carrier Global Corp's securities mentioned in the filing?

The CUSIP number for Carrier Global Corp's Common Stock is 14448C104.

Who are the listed group members associated with the reporting person, Viessmann Group GmbH & Co. KG?

The listed group members are MAXIMILIAN VIESSMANN, VIESSMANN BETEILIGUNGS AG, and VIESSMANN KOMPLEMENTAR B.V.

From the Filing

0000950103-24-000454.txt : 20240109 0000950103-24-000454.hdr.sgml : 20240109 20240109081558 ACCESSION NUMBER: 0000950103-24-000454 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 6 FILED AS OF DATE: 20240109 DATE AS OF CHANGE: 20240109 GROUP MEMBERS: MAXIMILIAN VIESSMANN GROUP MEMBERS: VIESSMANN BETEILIGUNGS AG GROUP MEMBERS: VIESSMANN KOMPLEMENTAR B.V. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CARRIER GLOBAL Corp CENTRAL INDEX KEY: 0001783180 STANDARD INDUSTRIAL CLASSIFICATION: AIR COND & WARM AIR HEATING EQUIP & COMM & INDL REFRIG EQUIP [3585] ORGANIZATION NAME: 06 Technology IRS NUMBER: 834051582 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-91500 FILM NUMBER: 24521767 BUSINESS ADDRESS: STREET 1: 13995 PASTEUR BOULEVARD CITY: PALM BEACH GARDENS STATE: FL ZIP: 33418 BUSINESS PHONE: 5613652000 MAIL ADDRESS: STREET 1: 13995 PASTEUR BOULEVARD CITY: PALM BEACH GARDENS STATE: FL ZIP: 33418 FORMER COMPANY: FORMER CONFORMED NAME: Carrier Global Corp DATE OF NAME CHANGE: 20190722 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Viessmann Group GmbH & Co. KG CENTRAL INDEX KEY: 0002004244 ORGANIZATION NAME: IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: BIRKENREID 1 CITY: BATTENBERG STATE: 2M ZIP: 35088 BUSINESS PHONE: 49 (0) 645 2929 6000 MAIL ADDRESS: STREET 1: BIRKENREID 1 CITY: BATTENBERG STATE: 2M ZIP: 35088 SC 13D 1 dp205022_sc13d.htm FORM SC 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 Carrier Global Corporation (Name of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securities) 14448C104 (CUSIP Number) Viessmann Group GmbH & Co. KG Im Birkenried 1 35088 Battenberg Germany +49 (0) 6452 9296 000 With a copy to: Leo Borchardt Davis Polk & Wardwell London LLP 5 Aldermanbury Square London NW5 3LH United Kingdom Telephone: +44 20 7418 1334 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) January 2, 2024 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-l(f) or 240.13d-l(g), check the following box. o Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7(b) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“ Act ”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 14448C104 1 Name of Reporting Person Viessmann Group GmbH & Co. KG 2 Check the Appropriate Box if a Member of a Group (a) o (b) o 3 SEC Use Only 4 Source of Funds OO 5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) o 6 Citizenship or Place of Organization Germany NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 Sole Voting Power 0 8 Shared Voting Power 58,608,959 (See item 5) 9 Sole Dispositive Power 0 10 Shared Dispositive Power 58,608,959 (See item 5) 11 Aggregate Amount Beneficially Owned by Each Reporting Person 58,608,959 (See item 5) 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares o 13 Percent of Class Represented by Amount in Row (11) 6.53%