Top 9 Companies Owned by Honeywell

Honeywell Worldwide (HON) generated $34.4 billion in gross sales for the fiscal 12 months 2021. It has efficiently solidified itself as a Fortune 500 firm by increasing into quite a few industries and providing various merchandise. Honeywell’s success is partially attributable to the quite a few acquisitions that it has accomplished.

Honeywell’s five-year strategic plan from 2014 to 2018 known as for $10 billion in mergers and acquisition spending. With out these subsidiaries, Honeywell’s operations wouldn’t be as diversified with regard to merchandise, geographical location, or business.

1. Elster Group

Honeywell’s largest acquisition was of Elster Group from Melrose Industries PLC. The 2016 acquisition was accomplished for $5.1 billion. Honeywell was interested in Elster Group’s high-growth product areas and geographical places.

Elster Group is a number one supplier of gasoline, electrical energy, and water meters, together with all related communications and software program options. It reported $1.670 billion in revenues, $532 million in present property, and $2.46 billion in intangible property for 2015.

2. EMS Applied sciences, Inc.

For $491 million, Honeywell bought EMS Applied sciences. The 2011 acquisition expanded Honeywell’s place within the world scanning and mobility business. EMS Applied sciences makes a speciality of rugged handheld vehicle-based merchandise. Objects bought inside the aviation division embrace rugged knowledge storage, surveillance functions, antennas, and terminals.

3. Intelligrated

Honeywell acquired Intelligrated in July 2016 for $1.5 billion in money. Based mostly in Ohio, Intelligrated employed over 3,000 people and was anticipated to report annual gross sales of round $900 million in 2016. 

Intelligrated is being utilized in Honeywell’s sensing and productiveness options unit inside the firm’s Automation and Management Options division. Honeywell included Intelligrated’s provide chain automation options inside Honeywell’s present workflow efficiency processes.

4. Intermec

In 2013, Honeywell accomplished the acquisition of Intermec and spent $600 million in money on the deal. Intermec gives worth to Honeywell in quite a few methods, together with modern merchandise, engineering experience, a broad world distribution channel, and priceless know-how within the AIDC business. 

Intermec is a number one supplier in computing on cellular units, radio frequency identification providers, printing options, and knowledge assortment merchandise. Intermec was built-in into Honeywell’s scanning and mobility division.

5. King’s Safetywear

For $331 million, Honeywell purchased Singapore-based King’s Safetywear in 2011. The deal expanded Honeywell’s buyer base as KWS’s operations have been strategically positioned in high-growth areas. Its Otter, King’s, and Oliver manufacturers of steel-toe-capped boots are bought primarily in Australia, Asia, and Europe. Honeywell’s motivation for finishing the deal was tied to bolstering its office security gear section of the enterprise.

6. Norcross

In 2008, Honeywell paid $1.2 billion to accumulate Norcross Security Merchandise (NSP). NSP produced respirators, helmets, protecting gloves, and different protecting gear for industrial employees in addition to firefighters. Based mostly in Illinois, Norcross turned a bit in Honeywell’s Automation and Management Options division.

7. RAE Methods

Honeywell introduced in 2013 a definitive settlement to accumulate RAE Methods Inc. The privately-held producer makes gasoline and radiation detection methods. Its merchandise embrace a full line of fastened and conveyable sensing and detection units bought to the federal government, emergency response sectors, and industrial entities. On the time of the deal, RAE Methods merchandise have been utilized in over 120 nations. Based in 1991 and based mostly in California, RAE Methods was bought for $340 million.

8. Sperian Safety

In September 2010, Honeywell accomplished the acquisition of Sperian Safety, which manufactures private protecting gear used typically business, building, fireplace providers, and electrical security segments. Honeywell paid $1.4 billion—or 1.5 occasions annual gross sales—for Sperian. Sperian makes a speciality of head safety (sight, listening to, and respiratory gear) in addition to physique safety (clothes, gloves, footwear).

9. Xtralis

In early 2016, Honeywell entered right into a definitive settlement to purchase Xtralis, which is a world supplier and business chief of aspirating smoke detection, in addition to safety video analytics software program. Honeywell paid $480 million within the deal. Xtralis’ buyer base contains Fortune 500 firms, iconic websites, and infrastructures worldwide. Its merchandise are used to guard knowledge facilities, historic buildings, airports, and manufacturing websites. Xtralis was headquartered in Eire with 500 staff.

Going Ahead

Honeywell has been comparatively quiet on the acquisition entrance. As a substitute, the corporate has taken the other method, finishing numerous spinoffs. This comes as the corporate obtained a brand new CEO in 2017, Darius Adamczyk. During the last couple of years, Honeywell spun off its transportation methods, houses, and ADI world distribution companies.