Farmington’s Carrier Corp., which makes heating, ventilating and air conditioning equipment, said it is combining its California residential and light commercial operations with Russell Sigler Inc.
Financial terms were not disclosed. Carrier said it expects the transaction to close within 90 days.
Shareholders of Russell Sigler — an independent distributor of Carrier, Bryant and Payne heating and air-conditioning products — will own 60 percent of the venture, and Carrier shareholders will own 40 percent.
The new venture will include Carrier-operated residential and light commercial distribution in California and Russell Sigler distribution in nine states that distribute Carrier, Bryant and Payne HVAC products.
Carrier is part of Hartford’s United Technologies Corp., which makes a wide variety of industrial products including helicopters, jet engines, commercial and residential HVAC systems, escalators, elevators and fire and security systems. (AP)
