Private equity eyes up UT unit

City A.M. Reporter
PRIVATE equity firms Carlyle Group and BC Partners have teamed up and are in advanced talks to buy United Technologies’ industrial businesses, according to three people familiar with the matter, in a deal that could be valued at more than $3.5bn.

The private equity consortium has emerged as the leading candidate to buy the pump and compressor businesses within United Tech's Hamilton Sundstrand subsidiary, and a deal may come in the near future, the people said.

However, United Tech could still turn to other suitors, such as TPG Capital, which also put in a bid.