Honeywell Wants To Buy Sperian For $1.4 Billion

Honeywell and Sperian Protection announced May 19 that Honeywell intends to acquire the French manufacturer of protective clothing and respiratory equipment through a $1.4 billion binding sale agreement.

The joint statement said Sperian’s Board of Directors had unanimously approved the tender offer, which would establish in combination with Honeywell’s Life Safety division what the companies called “a leading global provider of personal protection equipment with a full range of safety products in the attractive, high-growth PPE industry.”

In 2008 Honeywell acquired Norcross Safety Products L.L.C., which was described as a leader in PPE within several major industry segments including air purifying respirators (APRs), footwear, headgear, firefighter turnout gear, high voltage sleeves and gloves and arc flash protection. The acquisition formed the $900 million Honeywell Safety Products (HSP) segment within the Honeywell Life Safety business.

The acquisition is subject to regulatory approval in the United States, Britain and France and is expected to close in the third quarter.

With the addition of Sperian, Honeywell said the combined businesses will offer a full range of complementary head-to-toe products for those who work in environments where safety is paramount, including the general industrial, fire service, and electrical safety segments.

Honeywell, based in Morris Township, N.J., is a Fortune 100 diversified technology and manufacturing company, producing aerospace products and services, control technologies, automotive products, turbochargers, and specialty materials.

Sperian makes personal protective equipment, including hearing, eye, respiratory and fall protection, as well as gloves, clothing and footwear, geared toward international markets.

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