EU OK’s Honeywell deal for Safety Provider

Thursday, August 5, 2010 @ 05:08 PM gHale


Honeywell gained approval from European regulators for its $1.1 billion acquisition of safety products provider Sperian Protection.
Honeywell said the European Commission approved the deal. Honeywell started an offering for Sperian shares on July 12 and it expects the offer to close on Sept. 2. The company offered $1.1 billion in cash for Sperian in May.
Paris, France-based Sperian makes personal protection equipment (PPE) design and manufacturing and will integrate into Honeywell’s Automation and Control Solutions’ Life Safety business.
In combination with Sperian, Honeywell anticipates that its Safety Products business will benefit from significant synergies, expanded access to global distribution channels, and a strong retail presence. The combined business 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, construction, fire service, and electrical safety segments.
“We are very pleased to join together with Honeywell, an outstanding partner we know well and who shares our commitment to customers,” said Brice de La Morandière, Sperian chief executive at the time of the deal.
“It has one of the most recognizable brand portfolios in the industry and a top-tier global customer base, and we have a great deal of respect for the Sperian leadership team and business,” said Roger Fradin, president and chief executive of Honeywell Automation and Control Solutions after announcing the deal. “The company has built an impressive track record of long-term growth while continuing to invest in its future through R&D and global acquisitions.”
In 2008, Honeywell acquired Norcross Safety Products L.L.C., a provider 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 approximate USD $900 million Honeywell Safety Products (HSP) segment within the Honeywell Life Safety business.



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