United Technologies to sell industrial products businesses to BC, Carlyle for $3.46 billion

HARTFORD, Conn. – United Technologies says it is selling three industrial-products businesses to private equity firms BC Partners and The Carlyle Group for $3.46 billion.

Proceeds from the sale will be used to repay some of the short-term debt needed to finance its proposed $16.5 billion acquisition of aerospace parts maker Goodrich Corp.

The sale of Milton Roy Co., Sullair Corp. and Sundyne Corp. is subject to regulatory approval and the deal is expected to close by the end of the year.

United Technologies Corp. is also selling off other divisions, including its Rocketdyne engine-making unit, as it transforms itself to focus on its core aerospace and building-systems businesses.