The US$3.46 billion deal also includes compressor company Sullair Corp.

Raymond Svider, co-chairman and managing partner of BC Partners, said: “Hamilton Sundstrand Industrial is a world-class platform and we are excited about the company’s significant growth prospects, including in key emerging markets.”

“We look forward to working with the Hamilton Sundstrand Industrial team in the transition to a stand-alone company. The company is well positioned in its markets and will benefit from additional investment to fund product development and growth initiatives,” said Carlyle managing director Brian Bernase.