Honeywell, Morris Township, NJ, has agreed to buy Norcross Safety Products L.L.C., Oak Brook, IL, a manufacturer of Personal Protective Equipment (PPE), for $1.2 billion.
Norcross, majority owned by Odyssey Investment Partners, manufactures protective and safety equipment for the fire service, utility and general industrial worker segments.
Norcross will be integrated into Honeywell Life Safety, part of Honeywell's Automation and Control Solutions (ACS) group. Norcross's revenue was $609 million in 2007.
This acquisition creates an exciting adjacency for Honeywell Life Safety -especially our Fire Systems and Gas Detection businesses, which share common distribution channels with Norcross. We expect strong sales synergies across Honeywell businesses and opportunities to add value to Norcross products with Honeywell electronic gas sensors, fire detection and advanced fiber material technologies,"said Mark Levy, president of Honeywell Life Safety. "Norcross and its leadership in the personal protection segment are highly complementary to our portfolio and customer base. The acquisition of Norcross builds on the highly successful Novar, Zellweger and First Technology acquisitions and extends our already strong position in the $20 billion global Life Safety marketplace."
Honeywell International is a $36 billion diversified technology and manufacturing company.