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Seale Advises Carrier Corporation, a Subsidiary of UTC, on its Sale of International Cold Storage to the Shareholders of Crown Tonka and ThermalRite

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HARTFORD, CONNECTICUT - Seale & Associates, Inc. ("Seale") announced that it acted as exclusive financial advisor to Carrier Corporation ("Carrier"), a subsidiary of United Technologies Corporation, on the sale of Carrier's International Cold Storage ("ICS") commercial walk-in cooler business to the shareholders of Crown Tonka and ThermalRite, providers of walk-in coolers and freezers for a range of commercial applications.

ICS is a leading manufacturer of energy efficient, one-piece walk-in coolers to the food service, industrial and retail markets. With over 50 years of experience, ICS is a leader in the cold room industry with a diverse line of products and the ability to design, manufacture, deliver and install custom walk-in units, for indoor and outdoor use. ICS's customers include top 100 restaurant chains, equipment distributors, institutions, industrial facilities, supermarkets and convenience stores, and food distributors.

United Technologies provides high technology products and services to the building systems and aerospace industries. It has six segments: Otis, Carrier, UTC Fire & Security, Pratt & Whitney, Hamilton Sundstrand and Sikorsky. Carrier is a leader in providing heating, ventilation, air-conditioning and refrigeration systems, controls, services and sustainable building solutions for residential, commercial, industrial, food service and transportation applications.

Seale & Associates, Inc., headquartered in Arlington, Virginia, is a global investment banking firm with extensive experience in mergers and acquisitions, corporate finance advisory, and enterprise level strategy consulting. Our professionals are trusted advisors maintaining a high level of quality and integrity while presenting innovative ideas and solutions to address our clients' most complex dealings.


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