12 July 2010
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Carrier sells Heat Transfer Products
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CARRIER has sold its Heat Transfer Products Group (HTPG) business in the US to investment firms Monomoy Capital Partners and Starboard Capital Partners.
HTPG achieved sales of $90m last year and has more than 500 employees. It is headquartered in Brea, California and has manufacturing facilities in Scottsboro, Alabama and Yuma, Arizona.
'The transaction is a continuation of our strategy to increase focus on our core growth platforms which include our large and successful food retail refrigeration business in Europe and Asia,' said Carrier president Geraud Darnis.