Lone Star, through its affiliate LSF XII Investments, LLC, completed the acquisition of Carrier Global Corporation’s Commercial and Residential Fire business in a transaction valued at US$3 billion.

Carrier is a global leader in intelligent climate and energy solutions.

The transaction closed on December 2, 2024, with the business rebranded as Kidde Global Solutions.

Paul, Weiss, Rifkind, Wharton & Garrison LLP and Linklaters LLP served as legal counsel to Carrier, with Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC as financial advisors.

Davies served as Canadian legal counsel to LSF XII Investments with a team that includes Elliot Greenstone, Matthew Hendy and Noah Abitbol (Private M&A); Elisa Kearney (Competition); Sarah Powell and Zachary Silver (Environment); Max Jarvie (IP); Hélène Bussières and Mark Anthony Nakis (Labour and Employment); and Daniel Peterson (Real Estate).