Hartford conglomerate United Technologies Corp. completed the sale of its Clipper Windpower unit to pay for its $16.5 billion acquisition of North Carolina aircraft components maker Goodrich Corp.
Los Angeles financial firm Platinum Equity agreed to purchase Clipper for an undisclosed sum. That transaction closed on Tuesday.
UTC bought a 100 percent share of Clipper for $493 million in 2010.
UTC has made a number of moves to pay for the Goodrich acquisition, including selling its California-based Pratt & Whitney Rocketdyne unit to aerospace manufacturer GenCorp Inc., issuing nearly $10 billion in debt, and shedding parts of the operations for Windsor Locks aerospace manufacturer Hamilton Sundstrand.
