M&A Deal Summary

Sentinel Capital Partners Acquires Carrier - Industrial Fire Business

On March 5, 2024, private equity firm Sentinel Capital Partners acquired business services company Carrier - Industrial Fire Business from Carrier for 1.4B USD

Acquisition Highlights
  • This is Sentinel Capital Partners’ 6th transaction in the Business Services sector.
  • This is Sentinel Capital Partners’ largest (disclosed) transaction.
  • This is Sentinel Capital Partners’ 88th transaction in the United States.
  • This is Sentinel Capital Partners’ 11th transaction in Florida.

M&A Deal Summary

Date 2024-03-05
Target Carrier - Industrial Fire Business
Sector Business Services
Buyer(s) Sentinel Capital Partners
Sellers(s) Carrier
Deal Type Divestiture
Deal Value 1.4B USD

Target

Carrier - Industrial Fire Business

Palm Beach Gardens, Florida, United States
Carrier's Industrial Fire business is a fire detection and suppression solution for high-hazard applications across verticals such as critical infrastructure, oil and gas, marine, and clean energy. Carrier's Industrial Fire business is based in Palm Beach Gardens, Florida.

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Buyer(S) 1

Buyer

Sentinel Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 11.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sentinel Capital Partners is a private equity firm that targets investments in middle-market companies with strong management and 'attractive growth prospects'. Sentinel looks to invest up to $400 million of equity in companies generating EBITDA of up to $65 million. Sectors of interest include business services/outsourcing, consumer products and services, food and restaurants, franchising, and manufacturing. Prospective transaction situations include management buyouts, recapitalizations, corporate divestitures, take-privates, and growth capital financings. Sentinel Capital Partners was formed in 1995 and is based in New York, New York.


DEAL STATS #
Overall 95 of 96
Sector (Business Services) 6 of 6
Type (Divestiture) 5 of 5
State (Florida) 11 of 11
Country (United States) 88 of 89
Year (2024) 2 of 3
Size (of disclosed) 1 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-16 Market Performance Group

Princeton Junction, New Jersey, United States

Market Performance Group (MPG) is an omnichannel commerce agency providing strategy and consulting services. MPG offers end-to-end omnichannel capabilities and integrated solutions for a wide range of strategy and commercialization needs, including strategy & business consulting, omnichannel strategy & services, business analytics & insights, consumer marketing & retail activation, order to cash/3 PL, and FleXforce. The company provides short- or long-term, plug-and-play support for marketing, sales strategy, and other capability areas. Market Performance Group was formed in 2002 and is headquartered in Holmdel, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-18 NSi Industries

Huntersville, North Carolina, United States

NSi Industries is a provider of a wide variety of electrical connectors including insulated connectors and mechanical, digital time controls, time switches, wire management products, and related electrical components for construction, maintenance, and repair applications. NSi Industries was established in 1975 and is based in Huntersville, North Carolina.

Buy -

Seller(S) 1

SELLER

Carrier

Palm Beach Gardens, Florida, United States

Category Company
Founded 2019
Sector Machinery
Employees53,000
Revenue 22.1B USD (2023)
DESCRIPTION
Carrier research center in Jupiter, Florida.
Carrier research center in Jupiter, Florida.

Carrier is a producer of heating, air-conditioning and refrigeration solutions. Carrier provides sustainable solutions, integrating energy efficient products, building controls, and energy services for residential, commercial, retail, transport and foodservice customers. Carrier was founded in 2019 and is based in Palm Beach Gardens, Florida.


DEAL STATS #
Overall 12 of 14
Sector (Business Services) 2 of 2
Type (Divestiture) 9 of 11
State (Florida) 2 of 3
Country (United States) 5 of 6
Year (2024) 1 of 3
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-08 Global Access Solutions

Palm Beach Gardens, Florida, United States

Global Access Solutions is a provider of advanced access and security solutions, electronic locking systems, and contactless mobile key solutions.

Sell $5.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-02 Carrier Commercial Refrigeration

Rueil-Malmaison, France

Carrier Commercial Refrigeration specializes in high-efficiency, sustainable refrigeration solutions for various commercial and industrial applications. Carrier Commercial Refrigeration is based in Rueil-Malmaison, France.

Sell $775M