Sentinel Capital Partners, a private equity firm that invests in promising midmarket companies, announced today that it acquired the industrial fire business from Carrier Global Corporation (NYSE: CARR) at an enterprise value of $1.425 billion. Sentinel's purchase creates Spectrum Safety Solutions, a new standalone platform.
Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced it has completed the sale of its Industrial Fire business to Sentinel Capital Partners for an enterprise value of $1.425 billion.
Citi analyst Andrew Kaplowitz upgraded his rating on the heating, ventilation, and air-conditioning provider to Buy from Hold. His price target went to $74 a share from $65.