Apparatus

Honeywell Moves Into PPE With Norcross Acquisition

Issue 5 and Volume 13.

Honeywell International announced a definitive agreement in April to acquire Norcross Safety Products L.L.C., a leading manufacturer of personal protective equipment with such brand names as Morning Pride, PRO-Warrington and Servus.

The acquisition was valued at approximately $1.2 billion, and the agreement is subject to customary closing conditions, including regulatory review.

Norcross, which is based in Oak Brook, Ill., and majority owned by Odyssey Investment Partners, manufactures a wide range of protective and safety equipment for the fire service, utility and industrial worker markets. Norcross will be integrated into Honeywell Life Safety, part of Honeywell’s Automation and Control Solutions (ACS) group. Norcross’s revenue was approximately $609 million in 2007.

“From emergency responders, to electrical workers to the industrial workforce, Norcross’s innovative solutions protect those who work in environments where safety protection is paramount,” said Roger Fradin, president and CEO of Honeywell ACS. “With more than 100 years of industry experience, best-in-class solutions and trusted brands, and a strong management team with exceptional talent and depth, Norcross is a globally recognized industry leader that will bolster our offerings to our customers in key life safety segments.”

Fradin said the acquisition is expected to yield substantial growth opportunities. “Investing in Norcross allows Honeywell to fully participate in the broad and highly regulated industrial safety marketplace,” he said.

Norcross is a recognized leader in a number of market segments including air purifying respirators (APRs), protective footwear, protective headgear, firefighter turnout gear, high-voltage sleeves and gloves, and arc flash protection. It has one of the industry’s most extensive distribution networks with more than 2,500 distributors.

Mark Levy, president of Honeywell Life Safety, said the acquisition will benefit his company’s fire systems and gas detection businesses, which share common distribution channels with Norcross.

“Norcross and its leadership in the personal protection segment are highly complementary to our portfolio and customer base,” Levy said. “The acquisition… extends our already strong position in the $20 billion global life safety marketplace.”

Norcross sells its products under trusted, long-standing and well-recognized brand names, including North, KCL, Fibre-Metal, Morning Pride, Pro-Warrington, Salisbury and Servus.
“Becoming a part of Honeywell is a terrific opportunity for our business, customers and employees,” said Bob Peterson, president and CEO of Norcross Safety Products. “We are enthusiastic that this acquisition brings us access to even stronger technologies, global distribution channels, and gives us the ability to expand our product offerings in a world with heightened safety demands.”

Honeywell International, based in Morris Township, N.J., is a $36 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials.

For information on Honeywell, go to www.honeywell.com.

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