Sentinel Capital Partners, a private equity firm that invests in mid-market companies, has acquired the industrial fire business from Carrier Global Corp. (NYSE: CARR) at an enterprise value of $1.425 billion.
Sentinel’s purchase creates Spectrum Safety Solutions, a new standalone platform. Headquartered in Stamford, Conn., Spectrum is a manufacturer of industrial fire detection and suppression products and services in high-hazard environments. Spectrum serves companies in critical infrastructure, marine, clean energy and other industrials markets in more than 20 countries.
Citi was the financial advisor to Sentinel, and Kirkland & Ellis provided legal services.