Pump & Compressor Maker, Hamilton Sundstrand Industrial, Sold for $3.46 Bil.
United Technologies Corporation is selling Hamilton Sundstrand Industrial, a manufacturer of pumps and compressors for the global industrial, infrastructure and energy markets to private equity firm BC Partners and asset manager The Carlyle Group for $3.46 billion. The transaction is expected to close in the fourth quarter of 2012.
Together, The Carlyle Group and BC Partners plan to increase investment in the company’s product development activities and to leverage the global footprints of both firms to enable the company to accelerate its growth, according to an official announcement.
“We believe Hamilton Sundstrand Industrial’s strong product mix combined with secular growth trends in the energy, chemicals and industrials sectors create attractive long-term growth prospects for the company,” Vipul Amin, principal of The Carlyle Group, said in a prepared statement.
Hamilton Sundstrand Industrial comprises three industries. Sundyne is a manufacturer of high-speed pumps and compressors used principally for mission-critical, downstream oil & gas and chemical/industrial infrastructure. Milton Roy is a provider of metering pumps used in chemical, oil & gas and water treatment applications. Sullair is a global manufacturer of rotary screw air compressors used to power air-driven industrial equipment and tools used in the industrial manufacturing and the energy, mining and chemicals industries. The company operates 19 manufacturing facilities in the U.S., France, China, Australia, the UK, Spain and India.
