(Reuters) – Carrier said on Tuesday it would sell its Industrial Fire division to Sentinel Capital Partners in a $1.43 billion deal, as it looks to focus on its mainstay heating and cooling equipment businesses.
The Florida-based company last year bought German industrial firm Viessmann’s air conditioning division and sold its Global Access Solution business to Honeywell.
Carrier expects net proceeds from the transaction to exceed $1.1 billion and intends to use the proceeds to pay down debt.
The deal is expected to close in the third quarter.
(Reporting by Abhinav Parmar and Kannaki Deka; Editing by Shilpi Majumdar and Sriraj Kalluvila)
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