Honeywell has announced the sale of its Personal Protective Equipment (PPE) business to Protective Industrial Products (PIP) for $1.325 billion in an all-cash deal. This move aligns with Honeywell’s strategy to streamline its portfolio and concentrate on three key areas: automation, the future of aviation, and energy transition.
The PPE business, part of Honeywell’s Industrial Automation segment, provides safety equipment for industrial workers. It employs around 5,000 people and operates 20 manufacturing and 17 distribution sites globally. Honeywell will retain its gas detection portfolio within the Industrial Automation division.
Under PIP, a global supplier of personal protective equipment supported by Odyssey Investment Partners, the PPE business is poised for growth. Honeywell Chairman and CEO Vimal Kapur highlighted the business’s operational improvements and global expansion over the last five years, expressing confidence that PIP will drive further market and product innovation.
This divestiture reflects Honeywell’s broader plan to exit non-core operations, such as its 2021 sale of the Lifestyle and Performance Footwear business, and focus on high-growth opportunities. The company recently completed four acquisitions and has announced plans to spin off its Advanced Materials division by 2026.
The transaction, subject to regulatory approvals and customary conditions, is expected to close in the first half of 2025. Honeywell views this sale as a step toward optimising its portfolio and prioritising strategic investments to deliver long-term shareholder value.
