Carrier Selling Fire Business To Sentinel Capital For $US1.45 Billion.
Carrier Selling Fire Business – Carrier will sell its industrial fire business to Sentinel Capital Partners for $1.425 billion – the deal includes the Det-Tronics, Marioff, Autronica and Fireye brands.
The business has 1400 staff and operates in 20 countries providing fire and suppression solutions for marine, oil, clean energy and critical infrastructure applications. According to Carrier, proceeds from the deal will be more than $1.1 billion and management intends to use the funds to reduce debt.
It’s another move in Carrier’s transformation agreements to sell its global access solutions business to Honeywell for $5 billion and its commercial refrigeration business to Haier for $775 million. The final business to be solid as part of the process will be Carrier’s commercial and residential fire business.
“Industrial fire is a great business with leadership positions in the markets in which it operates, and an engaged, experienced team focused on delivering differentiated solutions to customers,” said Carrier chairman and CEO, David Gitlin.
“We look forward to watching its continued growth under the ownership of Sentinel. This transaction marks another milestone in our transformation as we become a more focused, higher growth company, and furthers our vision to become the global leader in intelligent climate and energy solutions.”
You can learn more about Sentinel Capital Partners here or read more SEN news here.
“Carrier Selling Fire Business To Sentinel Capital For $US1.45 Billion.”
