logo
Share SHARE
FONT-SIZE Plus   Neg

UTC Climate, Controls & Security Sells Fire And Security Branch Operations In US

UTC Climate, Controls & Security, a unit of United Technologies Corp. (UTX), said that it has closed on the sale of its fire and security branch operations in the U.S. to Comvest Investment Partners, a private equity fund of the Comvest Group. Terms of the deal are not being disclosed.

UTC Climate, Controls & Security is a leading provider of integrated building solutions, including heating, air conditioning and refrigeration systems, building controls and automation, and fire and security systems.

The business, with approximately $250 million in sales, 1,350 employees and 40 locations, was formed as a result of a roll-up of Red Hawk and a dozen other small U.S.-based businesses over the last several years.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Bimbo Bakeries is recalling packages of certain bread products across 11 states, after it received three consumer-reports of small pieces of glass found on the outside of the bread. Design software maker Autodesk, Inc. said Thursday after the markets closed that it swung to a second quarter loss, hurt by lower revenue and a hefty tax charge. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. GameStop reported an increase in second-quarter profit, driven by strong same-store sales growth and improved margins, partly offset by a stronger dollar and one-time charges. Both earnings and sales surpassed Wall Street estimates. The video-game retailer lifted its guidance for 2015. GameStop shares gained about 2 percent in after-hours trade.
comments powered by Disqus
Follow RTT