Honeywell to Buy Norcross for $1.2 Billion

April 10, 2008
Honeywell, Morris Township, N.J., agreed to acquire Norcross Safety Products LLC., a leading manufacturer of Personal Protective Equipment (PPE), for approximately $1.2 billion.

Honeywell, Morris Township, N.J., agreed to acquire Norcross Safety Products LLC., a leading manufacturer of Personal Protective Equipment (PPE), for approximately $1.2 billion.

Norcross, 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 general industrial worker segments. Norcross safety equipment, including gloves and sleeves, lineman equipment and arc-flash protection products.

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.

Roger Fradin, president and CEO of Honeywell ACS, said, “This acquisition provides Honeywell with a complete platform in a fragmented global segment, which is expected to yield substantial growth opportunities. Investing in Norcross allows Honeywell to fully participate in the broad and highly regulated industrial safety marketplace.”

Mark Levy, president of Honeywell Life Safety, said the acquisition of Norcross builds on the Novar, Zellweger and First Technology acquisitions and extends the company’s already strong position in the $20 billion global life safety marketplace.”