UTC buys Ma. sprinkler co.
FARMINGTON, Conn.--UTC Fire and SecurityÃ¢â‚¬â„¢s July acquisition of HFP, a Hopedale, Mass.-based fire sprinkler company is Ã¢â‚¬Å“consistent with UTCFSÃ¢â‚¬â„¢s growth agenda in North America,Ã¢â‚¬Â said Ken Sandifer, UTCFSÃ¢â‚¬â„¢s general manager, fire safety service group, via email.
Ã¢â‚¬Å“HFP has a strong customer base, including commercial, industrial and campus facilities in New England, and three decades of experience in providing fire sprinkler installation and service capability,Ã¢â‚¬Â Sandifer said.
UTCÃ¢â‚¬â„¢s growing fire-safety services presence includes locations in New York, Maryland, Massachusetts, Connecticut, Florida, California, Washington and Arizona.
An integration team Ã¢â‚¬Å“will work with the HFP senior leadership team over the next few months to support the transition,Ã¢â‚¬Â he added.
Terms of the deal were not released. Randal Stutzman, director of FMI Corp.Ã¢â‚¬â„¢s investment banking group, represented HFP on the deal. The sale was part of an Ã¢â‚¬Å“estate planning process Ã¢â‚¬Â¦ and UTC happened to be a great fit,Ã¢â‚¬Â he said.