Onward and Upward

IEP Technologies Acquires UTC’s Explosion Suppression Businesses July 24, 2013

UTC Climate, Controls and Security announced yesterday, July 23, 2013, that it has sold its Industrial Explosion Protection business to IEP Technologies, LLC of Boston, MA.

IEP Technolgoies, LLC is a new company formed from four leading explosion protection companies in the United States, United Kingdom, Germany and Switzerland.  According to their press release, their mission is to offer leading edge explosion protection solutions to their customers worldwide by designing the best protection solutions, manufacturing innovative explosion protection components; providing precise applications engineering; and supporting their systems with responsive sales/service.

The new company was formed in response to UTC’s transformation to divest non-core businesses.  The explosion protection business is a niche business which requires customized application engineering; best suited to a single focused company.

Leadership of the new company comes from the four acquired business units.  Randy Davis, Chief Executive Officer and President, is a 26 year industry veteran and most recently was General Manager of Global Explosion Protection for United Technologies Fire and Security.

According to a press release from Sentinel Equity Partners, the private equity firm that formed IEP Technologies,  Eric D. Bommer, a Sentinel partner said, “We are very excited about IEP Technologies’ growth potential and thrilled to be partnering with its talented management team.”  IEP Technologies’ creation came about through a lot of hard work by IEP Technologies’ management, Sentinel’s team, and a large group of dedicated outside advisers to complete a highly complex corporate carve-out, including four separate business units spread across four different countries.”

Protex Central, Inc is an authorized service center for Fenwal IEP Technologies for the states of Iowa and Nebraska.

To learn more about IEP Technologies, click here.