ACHRNEWS

July 20, 2010: Carrier Sells Heat Transfer Products Group

July 20, 2010

FARMINGTON, Conn. - Carrier Corp. announced that it has sold its Heat Transfer Products Group (HTPG) business to Monomoy Capital Partners L.P. and Starboard Capital Partners LLC.

HTPG, with 2009 revenues of approximately $90 million and more than 500 employees, is a leading manufacturer of commercial refrigeration components for the food service and food retail market segments. It is headquartered in Brea, Calif., and has manufacturing facilities in Scottsboro, Ala., and Yuma, Ariz.

“HTPG has a leading market presence, reputable brands, and a solid product portfolio,” said Geraud Darnis, president, Carrier Corp. “We’re pleased that its combination with Monomoy will enhance its growth potential.”

“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,” added Darnis.

For more information, visit www.carrier.com.

Publication date: 07/19/2010