# Carrier sells Heat Transfer Products Group to Monomoy and Starboard

Carrier Corporation, a UTC subsidiary, sold its Heat Transfer Products Group (HTPG) commercial refrigeration business to Monomoy Capital Partners and Starboard Capital Partners. Terms were not disclosed.

- Type: Acquisition
- Announced: 2024-10-01
- Where: Walker, Michigan, United States
- Status: completed
- Products: refrigeration condensing units, evaporator coils, air cooled condensers
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Carrier Corp](https://endata.com/companies/5132.md)
- [United Technologies Corp.](https://endata.com/companies/937.md) (partner)
- [Monomoy Capital Partners](https://endata.com/companies/6266.md) (acquirer)
- [Oliver Packaging & Equipment](https://endata.com/companies/34489.md) (target)
- [Starboard Capital Partners](https://endata.com/companies/80190.md) (acquirer)

## Sources

- [sealeassociates.com](https://www.sealeassociates.com/experience/transactions/carrier-corporation-sold-htpg), 2024-10-01: "Seale & Associates announced that it acted as exclusive financial advisor to Carrier Corporation on the sale of Carrier's Heat Transfer Products Group commercial refrigeration business to Monomoy Capital Partners and Starboard Capital Partners."
- [kirkland.com](https://www.kirkland.com/news/press-release/2024/11/kirkland-advises-monomoy-capital-partners-on-acquisition-of-oliver-packaging-and-equipment), 2024-11-01: "Kirkland & Ellis advised private investment firm Monomoy Capital Partners on its carve-out acquisition of Oliver Packaging and Equipment."
- [businesswire.com](https://www.businesswire.com/news/home/20241104739111/en/Monomoy-Acquires-Olivers-Food-Packaging-and-Equipment-Business), 2024-11-04: "Monomoy’s operational value-add in similar businesses and experience in packaging represent a differentiated opportunity to grow Oliver as an independent platform."
- [crainsgrandrapids.com](https://www.crainsgrandrapids.com/news/manufacturing/130-year-old-food-packaging-equipment-producer-sells-to-new-york-private-equity-firm/), 2024-11-05: "Oliver Packaging and Equipment has been selling bread-slicing machines since 1932."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.