After its first $236 million attempt fell through, Hartford conglomerate United Technologies Corp. announced Friday it has found a second buyer for the West Hartford pump and engine control system division of the former Goodrich Corp. in Pennsylvania aerospace manufacturer Triumph Group Inc., settling antitrust concerns.
The sale is one of many divestitures required by regulators since UTC purchased North Carolina aerospace manufacturer Goodrich for $16.5 billion in 2012. UTC previously announced it was selling the West Hartford unit to Cleveland aviation firm TransDigm for $236 million sometime in the fourth quarter or early first quarter, but that was stopped after the U.S. Department of Justice objected to the transaction.
Financial terms of the Triumph Group deal weren’t disclosed Friday. UTC believes this deal will go through without major conflict by the end of the first quarter, said UTC spokesman Ian Race.
“We are confident with the buyer,” Race said.
Triumph plans to add $195 million in annual revenue from the unit, calling it Triumph Engine Control Systems, LLC. The West Hartford unit employs 530 at its Flatbush Avenue location.
Since acquiring Goodrich, UTC has folded it into its newly created UTC Aerospace Systems, which also include the former Hamilton Sundstrand operations in Windsor Locks. Other divestitures include the $400 million sale of a Goodrich electric power systems unit to French aerospace firm Safran.
