• Carrier chair & CEO, Dave Gitlin.
    Carrier chair & CEO, Dave Gitlin.

Carrier Global Corporation has entered into a definitive agreement to sell its Industrial Fire business to Sentinel Capital Partners for $US1.425 billion.

The announcement represents the latest step in Carrier's ongoing portfolio transformation, following the recent acquisition of Viessmann Climate Solutions.

Carrier has already sold its Global Access Solution’s business to Honeywell for nearly $5 billion and its commercial refrigeration business to Haier for $775 million.

Carrier continues to prepare for the last of its four announced business exits – its combined commercial and residential fire businesses.

With approximately 1,400 employees operating in more than 20 countries, Carrier's Industrial Fire business is a global leader in fire detection and suppression solutions for high-hazard applications across verticals such as critical infrastructure, oil and gas, marine and clean energy.

This pending sale will allow the business to build on the strength of its advanced lifecycle solutions, strong customer relationships and high growth potential across key segments.

Carrier chair & CEO, David Gitlin, said Industrial Fire is a great business with an experienced team.

“We look forward to watching its continued growth under the ownership of Sentinel," he said.

"This transaction marks another milestone in our transformation as we become a more focused, higher growth company, and furthers our vision to become the global leader in intelligent climate and energy solutions."

Carrier expects net proceeds from the transaction to exceed $1.1 billion and intends to use the proceeds to pay down debt.