MICHIGAN CITY, IND. (Aug. 17, 11:15 a.m. ET) — United Technologies Corp. has sold the industrial businesses of Hamilton Sundstrand Corp., including Sullair Corp., to private equity buyers.
Sullair makes rotary screw compressors used for desiccant dryers and other applications.
Washington-based Carlyle Group and BC Partners of London have formed a limited partnership that will jointly oversee management of Sullair.
Sullair, based in Michigan City, is a major compressors manufacturer. The company is a global supplier of stationary and portable compressors, compressed air contaminant removal equipment, vacuum systems and contractors' air tools.
Terms were not disclosed for the deal, which is expected to close in the fourth quarter.