Honeywell announces acquisition of Intelligrated for $1.5B

Summary

July 1, 2016 -- Honeywell announced it has signed an agreement to acquire privately held, supply chain and warehouse automation leader Intelligrated for $1.5 billion from a company backed by the Permira funds. The purchase price translates to approximately 12 times Intelligrated’s  estimated 2016 earnings before interest, taxes, depreciation and amortization (EBITDA). The company’s 2016 sales are estimated to be approximately $900 million.

The transaction is expected to close by the end of the third quarter, subject to customary closing conditions, including regulatory review. Upon approval, Intelligrated  will be part of Sensing and Productivity Solutions (S&PS) in Honeywell’s Automation and Control Solutions business.

Intelligrated designs, manufactures, integrates and installs complete warehouse automation solutions, software and services that result in smarter distribution and fulfillment operations. Its supply chain and warehouse solutions drive improved productivity and lower costs for retailers, manufacturers, and logistics providers around the world. The company has grown at a compound annual growth rate (CAGR) of approximately 13 percent over the past three years, faster than the industry overall. Intelligrated has a large and growing customer  base of more than $5 billion, including leading Fortune 500 retailers, manufacturers and  logistics providers worldwide, top consumer products companies, 30 of the top 50 U.S. retailers , and half of the top 100 Internet retailers. Intelligrated,  headquartered in Mason, Ohio, employs more than 3,100 people in manufacturing and regional offices located across the United States, Canada, Mexico, Brazil and China. The company was founded in 2001 and grew quickly via organic growth and strategic acquisitions.

About Honeywell

Honeywell  (www.honeywell.com)  is a Fortune 100 diversified  technology and manufacturing  leader, serving  customers worldwide  with aerospace produc ts and services;  control technologies  for buildings, homes, and industry; turbochargers;  and performance  materials.