Alarko buys out Carrier's $16.8M stake, ending 28-year Turkish venture
What's the deal? Turkish conglomerate Alarko HoldingDealroom has a profile for this one. Try Dealroom → has agreed to buy US climate control company CarrierDealroom has a profile for this one. Try Dealroom →'s 42% stake in their joint venture, Alarko CarrierDealroom has a profile for this one. Try Dealroom →, for $16.8 million. The move gives Alarko full control and ends a partnership dating back to 1998. The binding share purchase agreement was signed on 7 August 2026.
Why now? The deal caps talks that began in 2025. Alarko first proposed in April 2025 to sell Carrier a 20% stake in the venture; the parties later reversed course, opting to unwind their cooperation entirely.
What changes? Once the deal closes, Alarko Carrier — now classified as a joint venture — becomes a subsidiary of the Turkish group. The transaction terminates the existing shareholders' agreement between the two companies.
The partners are also carving out the Carrier and ToshibaDealroom has a profile for this one. Try Dealroom → brand operations. Under a separate agreement, certain inventories, contracts, and obligations will transfer to Viessmann Isi Teknikleri Ticaret Limited SirketiDealroom has a profile for this one. Try Dealroom →, a Carrier affiliate. Alarko Carrier will then stop all activities tied to the Carrier and Toshiba brands.
What could go wrong? Completion is expected within six months but hinges on conditions, including approval from Türkiye's Competition Authority.
The signal: The buyout reflects Carrier's retreat from a longstanding local partnership as Alarko consolidates its climate business under full ownership. For Alarko — which recently launched a $650 million agricultural investment in Kazakhstan — the deal folds a key venture directly into the group while severing ties to two international brands.
Read more: Türkiye Today
Image credit: KOMUnews
