Hamilton Sundstrand to sell its WFEL business in United Kingdom
Dec. 14, 2006
Windsor Locks, CT -
Hamilton Sundstrand, a subsidiary of United Technologies Corp. (NYSE:UTX), has sold its WFEL business to a group led by the private equity firm Dunedin Capital Partners, Ltd..
WFEL, based in Stockport, United Kingdom, is a world leader in the manufacture and design of tactical military bridges. The WFEL business was a component of Hamilton Sundstrand’s Kidde Aerospace & Defense segment, which United Technologies purchased as part of the Kidde acquisition in 2005. Kidde's commercial fire & security segments became part of UTC Fire & Security while the aerospace & defense business became part of Hamilton Sundstrand.
Jefferies Quarterdeck acted as financial advisor to the sellers. Kirkpatrick & Lockhart Nicholson Graham LLP acted for the sellers as solicitor on the transaction, with the team led by Martin Lane and assistance from senior associate Nick Brown.
With 2005 revenues of $4.4 billion, Hamilton Sundstrand employs approximately 17,000 people worldwide and is headquartered in Windsor Locks, Conn., USA. Among the world’s largest suppliers of technologically advanced aerospace and industrial products, the company designs, manufactures and services aerospace systems and provides integrated system solutions for commercial, regional, corporate and military aircraft. It also is a major supplier for international space programs.
United Technologies Corporation, based in Hartford, Conn., USA, is a diversified company that provides high-technology products and services to the aerospace and building industries.
Contact:
Dan Coulom
860-654-3469
Hamilton Sundstrand
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