United Technologies Corp (UTC), the $54-billion aerospace and defence contractor and maker of the Black Hawk helicopter, is evaluating the sale of its pump and compressor-making units in order to raise money to fund its largest-ever acquisition, Reuters yesterday reported, citing sources.

The sale of these units, which are part of UTC's Hamilton Sundstrand division, may fetch the Hartford, Connecticut-based company around $3.5 billion and lessen the amount of shares it may require to sell to fund its planned $16.5 billion acquisition of Goodrich Corp.

Goldman Sachs, which has been hired by UTC as financial adviser for the sale, has reached out to a number of potential strategic buyers and private equity firms to gauge their interest, the sources told the news agency.

The sale of Hamilton Sundstrand's pump and compressor-making units comprises of Milton Roy Company and Sundyne Corporation, which makes fluid control products and pumps, and Sullair, one of the world's leading air compressor manufacturers.

Potential buyers for Milton Roy and Sundyne could be SPX Corp, Flowserve Corp, Dover Corp, Weir Group Plc, Sulzer AG, Pentair Inc and Tyco International, while Sullair could evoke the interest of Atlas Copco AB, Gardner Denver Inc and Engel, the sources told Reuters.

In September 2011, UTC offered to buy Aircraft components maker Goodrich Corp for $18.4-billion in cash, including the assumption of $1.9 billion debt.

If the deal materialises, Goodrich would be UTC's largest acquisition since 2000, when its attempt to buy Honeywell International was foiled by General Electric's $45-billion offer.

UTC, which reported net income of $4.711 billion in 2010 on revenues of $54.3 billion, is a US multinational conglomerate that manufactures high-technology products in many areas, including aircraft engines, helicopters, HVAC, fuel cells, elevators and escalators, fire and security, building systems, and industrial products, among others.

It is also a large military contractor, producing missile systems and military helicopters, including the UH-60 Black Hawk helicopter.

Its aerospace businesses include Hamilton Sundstrand aerospace electric systems, Sikorsky Aircraft, its helicopter making unit and Pratt & Whitney, the jet engines unit.

UTC, which has a market capitalisation of $67 billion, also owns Otis elevators and Carrier heating and cooling.