UTC Climate, Controls & Security, a unit of United Technologies Corp. (UTX: Quote), 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.
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by RTT Staff Writer
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