Carrier Transicold, a part of UTC Climate, Controls & Security and a unit of United Technologies Corp., announced it has signed an agreement to acquire the assets of the Auxiliary Power Unit (APU) business of Westport Fuel Systems Inc. for $70 million, subject to certain customary adjustments. The transaction is expected to close within a few weeks.
Westport said the divestiture, which includes the ComfortPro APU and the IMPCO lightweight rail APU, is consistent with Westport’s strategy to streamline its business and product lines and focus on alternative fuel solutions for the transportation and automotive industries.
“We are pleased to have completed this transaction as part of our portfolio review that began with the closing of the merger with Fuel Systems in June of 2016” said Nancy Gougarty, CEO of Westport Fuel Systems. “After a careful assessment of the APU product line and its fit with the other Westport Fuel Systems businesses, we decided it made the most sense for our shareholders to pursue this sale.”
“These product lines will enable Carrier Transicold to provide a superior line of APUs and battery comfort systems for trucks and APUs for locomotives,” said Tom Ondo, vice president and general manager, Carrier Transicold, Truck/Trailer/Rail Americas. “In addition to delivering a broad range of transport refrigeration solutions to our customers, with this acquisition, we are expanding our offerings to include anti-idling technologies that contribute to greater operator comfort as well as reduced fuel consumption while meeting operational and sustainability goals.”