United Technologies Corporation has created a new UTC Aerospace Systems business unit by acquiring aerospace parts maker Goodrich Corporation and combining it with UTC’s Hamilton Sundstrand Space Systems, which has been making spacesuits, life-support equipment and other components for America’s space program for nearly 50 years.
To finance its Goodrich acquisition, UTC has agreed to sell Pratt & Whitney Rocketdyne to GenCorp (owner of Aerojet) for $550 million. The company will also sell its Hamilton Sundstrand Industrial unit to BC Partners and The Carlyle Group for $3.46 billion. The industrial unit manufactures highly engineered, mission-critical pumps and compressors for the global industrial, infrastructure and energy markets.