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Honeywell to buy privately held Intelligrated for $1.5 billion

Staff writer |
Honeywell International will buy distribution systems and logistics company Intelligrated Inc for $1.5 billion from a company backed by the Permira funds.

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Private equity firm Permira Advisers acquired Intelligrated in 2012 for more than $500 million from Gryphon Investors, another private equity firm.

Mason, Ohio-based Intelligrated, which will be part of Honeywell's Sensing and Productivity Solutions after the deal is closed, is expected to record sales of about $900 million this year.

Last week, Intelligrated's larger peer Dematic was bought by German forklift truck maker Kion Group for $3.25 billion to expand into automated warehouses and supply chains that have ballooned with the growth of e-commerce.

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