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Honeywell to Acquire Intelligrated for $1.5 Billion

July 4, 2016
Intelligrated’s warehouse execution systems and software will complement Honeywell’s scanning, mobile computer and voice automation technologies.

While the material handling and logistics community is still sorting out the implications of last week’s announcement that lift truck manufacturer Kion Group plans to acquire Dematic for $2.1 billion, yet another blockbuster deal has gone down just before the Independence Day holidays. Industrial conglomerate Honeywell (IW500/30) has signed an agreement to acquire privately-held supply chain and warehouse automation provider 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.

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