SAA has advised Protective Industrial Products (PIP), a global manufacturer and supplier of personal protective equipment (PPE) and a portfolio company of Odyssey Investment Partners LLC, on the Romanian legal aspects of the acquisition of Honeywell’s (NASDAQ: HON) Personal Protective Equipment Business.
The acquired business includes globally recognized brands such as Fendall™, Fibre-Metal™, Howard Leight™, KCL™, Miller™, Morning Pride™, North™, Oliver™, Salisbury™, among others.
This strategic transaction advances Honeywell’s ongoing portfolio optimization and positions the PPE business for long-term growth under the ownership of PIP. It also marks Honeywell’s complete exit from the personal protective equipment sector, following the 2021 divestiture of the Lifestyle and Performance Footwear business to Rocky Brands, and allows both companies to sharpen their focus on core priorities and deliver greater value to customers worldwide.
Protective Industrial Products, Inc. is a global leader in personal protective equipment, serving a wide range of industries with products such as hand protection, protective clothing, and safety eyewear. Founded in 1984 and headquartered in New York, PIP operates in over 35 locations worldwide under brands like G-Tek®, Boss®, Bouton Optical®, and Bisley Workwear®.
The company serves distributors and retailers via a mix of owned, licensed, and private-label brands, supported by extensive global sourcing and manufacturing capabilities. PIP is a portfolio company of Odyssey Investment Partners, LLC.
Honeywell (NASDAQ: HON) is a Fortune 100 global technology company with over $36 billion in 2023 revenue and operations in over 75 countries. With a workforce of approximately 97,000, Honeywell operates across four core sectors: Aerospace, Industrial Automation, Building Automation, and Energy & Sustainability. Positioned at the intersection of automation, aviation, and energy transition, the company drives innovation through its Honeywell Accelerator system and Forge IoT platform, delivering smart, scalable solutions for industries worldwide.
The Stratulat Albulescu Corporate/M&A team advising on the Romanian law aspects of the transaction was led by Managing Partner Silviu Stratulat and included Senior Associate Amanda Csaki and Associate Cezara Mitea, while the employment related aspects were led by Partner Andrei Albulescu, supported by Managing Associate Anca Ulea and Associate Camelia Panaite.
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