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Honeywell and KSW complete business negotiations

The two companies have agreed a deal for Honeywell to take over King's Safetywear.

02 November 2011

A series of international business negotiations between Honeywell and King's Safetywear (KSW) have led to an agreement being reached for the former to acquire the latter.

The deal is valued at $338 million (£211 million), subject to the ratification of closing conditions.

Mark Levy, president and chief executive officer of Honeywell Life Safety - which manufactures technological solutions for macrotrends such as safety, security and energy - is happy with the deal.

He added the completion of sales negotiations will "substantially enhance our position within the safety footwear category".

"KSW brands are highly valued, as is reflected by their strong sales growth and terrific profitability," Mr Levy stated.

He described the decision to take over KSW - which has been operating in its field since 1887 - as "logical".

It is the latest in a line of acquisitions made recently by Honeywell, after both Norcross and Sperian were also taken over.

Posted by Ken Hayes

Source: Honeywell press release, November 1st
 

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