Morris Township, NJ — Honeywell will acquire Norcross Safety Products L.L.C., a manufacturer of personal protective equipment (PPE), for approximately US$1.2 billion. Norcross owns North Safety Products of Anjou, QC.
Norcross, based in Oak Brook, IL, 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 will be integrated into Honeywell Life Safety, part of the company’s Automation and Control Solutions (ACS) group. Norcross’s revenue was approximately US$609 million in 2007.
“From emergency responders, to electrical workers to the industrial workforce, Norcross’s innovative solutions protect those who work in environments where safety protection is paramount,” said Roger Fradin, president and CEO of Honeywell ACS.
“This acquisition provides Honeywell with a complete platform in a fragmented, global segment [that] is expected to yield substantial growth opportunities. Investing in Norcross allows Honeywell to fully participate in the broad and highly regulated industrial safety marketplace.”
As one of the industry’s largest providers of personal protective equipment, Norcross has a unique ability to provide integrated head-to-toe protective equipment solutions. Norcross sells to a number of market segments, including Air Purifying Respirators (APRs), protective footwear, protective headgear, firefighter turnout gear, high-voltage sleeves and gloves, and arc flash protection. It has more than 2,500 distributors.
“We expect strong sales synergies across Honeywell businesses and opportunities to add value to Norcross products with Honeywell electronic gas sensors, fire detection and advanced fiber material technologies,” said Mark Levy, president of Honeywell Life Safety. “Norcross and its leadership in the personal protection segment are highly complementary to our portfolio and customer base. The acquisition of Norcross builds on the highly successful Novar, Zellweger and First Technology acquisitions and extends our already strong position in the $20 billion global Life Safety marketplace.”
Norcross sells its products under various brand names, including North, KCL, Fibre-Metal, Morning Pride, Pro-Warrington, Salisbury and Servus.
“Becoming a part of Honeywell is a terrific opportunity for our business, customers and employees. We are enthusiastic that this acquisition brings us access to even stronger technologies, global distribution channels, and gives us the ability to expand our product offerings in a world with heightened safety demands,” said Bob Peterson, president and CEO of Norcross Safety Products.
Honeywell International is a US$36 billion diversified technology and manufacturing company serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. For additional information, visit www.honeywell.com.