Honeywell to sell PPE business to Protective Industrial Products for $1.325B

Honeywell (HON) announced that it has agreed to sell its Personal Protective Equipment business to Protective Industrial Products, a portfolio company of Odyssey Investment Partners, for $1.325B in an all-cash transaction. The transaction will enable Honeywell to further simplify its portfolio in order to accelerate value creation in alignment with three compelling megatrends: automation, the future of aviation and energy transition. The transaction, which is expected to be completed in the first half of 2025, is subject to customary closing conditions.