Sentinel Capital Partners Carves Out Industrial Fire Business from Carrier

Sentinel Capital Partners has completed the acquisition of the industrial fire business from Carrier Global Corporation (NYSE: CARR), creating Spectrum Safety Solutions, a new standalone platform, which includes Autronica, a leading and worldwide innovator, manufacturer and supplier of fire and gas safety systems. Sentinel Capital Partners is a New York-based leading private equity firm that invests in promising midmarket companies and has an established record of helping industrial businesses grow and thrive.

“We look forward to working with Spectrum’s talented management team to further build its exceptional platform,” said Eric Bommer, a Sentinel partner. “Spectrum owns great brands, has a long history of serving its many global customers, and has exciting growth opportunities.”

“We are extremely pleased to partner with Sentinel. Our new partnership will enable us to sharpen the focus of the business, dedicate additional resources to our leading brands, and accelerate growth,” said Rajan Goel, Spectrum’s president and CEO. “The Spectrum team is very strong globally and with Sentinel’s support we will be able to serve our customers more effectively in the next stage of growth.”

Headquartered in Stamford, Connecticut, USA, Spectrum Safety Solutions has approximately 1400 employees in more than 20 countries. Spectrum is a global leader in fire, flame, and gas detection and suppression, through iconic brands Autronica, Det-Tronics, Fireyeand Marioff. It provides customers with a complete portfolio of advanced lifecycle solutions and services designed to meet the unique challenges of protecting people, equipment and operations in high-hazard, mission-critical industrial environments across the globe in critical infrastructure, marine, energy, and other industrial markets.

“We are fortunate to have a well-established partner and owner as Sentinel who recognizes the value we have already created and believes in our future potential and vision. As a result, Autronica will be in a stronger position to invest for growth and create new opportunities for our employees and partners,” said Sindre Utne, Managing Director of Autronica Fire and Security.

About Spectrum Safety Solutions

Based in Stamford, Connecticut, USA, Spectrum is a leader in industrial fire detection and suppression to the infrastructure, energy, and marine sectors. Spectrum serves clients operating in mission critical and hazardous environments worldwide under the Autronica, Det-Tronics, Fireye, and Marioff brands. To learn more about Spectrum, visit www.spectrum-safety.com

About Autronica

Autronica is a leading and worldwide innovator, manufacturer and supplier of fire and gas safety and supplies products that safeguard fire safety on land, at sea and within the petrochemical, oil and gas market. An international company with offices all over the world and with the head office firmly located in Norway's technology capital, Trondheim.

Autronica has over 500 employees spread over departments in Norway and internationally, while production takes place in Norway. They have short paths between process links and proximity to the product and are industry leaders when it comes to quality assurance, specialist expertise and sustainable production.