UTC Sells Fire & Security Branch to Private Equity Firm

FARMINGTON, Conn. — UTC Climate, Controls & Security has sold its U.S. fire and security operations to private equity fund Comvest Investment Partners, the company announced Tuesday. Terms of the deal were not released.

As a result of the deal, Comvest will acquire 1,350 employees and 40 branches from the business. UTC formed the unit, which brings in $250 million in sales, with the fold-in of Red Hawk Industries and a dozen other small U.S.-based businesses within the last several years.

The company is strategically reviewing its fire and security portfolio to focus on its most profitable business operations, according to UTC Climate, Controls & Security President and CEO Geraud Darnis.

“With this transaction, the U.S. fire and security branch network will be able to strengthen its operations and enhance its growth profile by taking advantage of Comvest’s deep experience in the industry,” he said.

The announcement comes shortly after the company combined UTC Fire & Security and Carrier Corp. in September.

Tagged with: Industry News UTC

Security Is Our Business, Too

For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.

A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!

Get Our Newsletters