Honeywell Inks A $1.5 Billion Deal To Acquire Intelligrated
Zacks Investment Research | Jul 04, 2016 11:45PM ET
Honeywell International Inc. (NYSE:HON) recently announced that it has inked a deal to acquire leading supply chain and warehouse automation company, Intelligrated from an unnamed company backed by funds from private equity firm, Permira, for $1.5 billion.
The company expects the transaction to close by the end of the third quarter. On completion, Intelligrated will be part of Honeywell's Sensing and Productivity Solutions (S&PS) unit in its Automation and Control Solutions business.
About Intelligrated
Based in Mason, OH, Intelligrated is a material handling automation and software engineering company. It operates across the United States, Canada, Mexico, Brazil and China, and employs over 3,100 people. Intelligrated has grown at a CAGR of approximately 13% over the past three years, well ahead of the overall industry. The company boasts of a fairly large customer base worth more than $5 billion and includes the likes of leading Fortune 500 retailers, manufacturers and logistics providers worldwide, top consumer product companies, 30 of the top 50 U.S. retailers, and half of the top 100 Internet retailers.
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