Honeywell to buy privately held Intelligrated for $1.5 billion
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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. ■