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United Technologies Completes Sale Of Industrial Businesses

Diversified industrial conglomerate United Technologies Corp. (UTX) has completed the sale of the industrial businesses of its Hamilton Sundstrand subsidiary to private equity firms Carlyle Group L.P. (CG) and BC Partners Ltd.

The company sold three separate units, Hamilton Sundstrand Industrials' pump and compressor businesses, which makes fluid control products and pumps under the Milton Roy and Sundyne brands as well as air compressors under the Sullair brand.

In July, United Technologies agreed to sell the businesses for $3.6 billion in order to fund its pending $16.5 billion cash acquisition of defense contractor Goodrich Corp. (GR) that was announced in September 2011.

by RTTNews Staff Writer

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