Honeywell to buy fulfilment solutions provider Intelligrated for $1.5bn
Honeywell is set to buy Intelligrated, a North American-based advanced fulfilment solutions provider, in an all-cash transaction for $1.5bn. The transaction is expected to close by the end of the third quarter.
Intelligrated creates automation solutions which can include conveyors, sortation systems, palletizers, robotics and storage and retrieval systems.
Honeywell is buying Intelligrated from a company backed by the Permira funds. According to a statement issued by Permira on Friday (1 July), Intelligrated has – since being acquired by the Permira funds in 2012 – “more than tripled R&D investment in new systems and capabilities, including an automated storage/retrieval system (AS/RS), a full parcel solution to compete in the high-growth global parcel market, and robotic solutions”.
Intelligrated will join Sensing and Productivity Solutions (S&PS) in Honeywell’s Automation and Controls Solutions Business.