Honeywell Exits PPE Business with PIP Acquisition
Deal News | May 28, 2025 | Stratulat Albulescu
Protective Industrial Products (PIP), supported by Stratulat Albulescu for Romanian legal aspects, has acquired Honeywell's Personal Protective Equipment (PPE) business. This acquisition aligns with Honeywell's strategic portfolio optimization, allowing them to exit the PPE sector after previously divesting other related businesses. Honeywell, a global giant in technology and innovation, has sold this division to refocus on core aspects of its operations. PIP, a global leader in personal protective equipment and a portfolio company of Odyssey Investment Partners, is set to expand its market reach and product offerings with this acquisition. Stratulat Albulescu's team, led by Silviu Stratulat, played a crucial role in advising PIP through this transaction.
Sectors
- Personal Protective Equipment
- Legal Services
- Technology and Manufacturing
Geography
- Romania – Stratulat Albulescu, a Romanian law firm, advised on the legal aspects specific to Romania for the acquisition.
- United States – Both PIP, headquartered in New York, and Honeywell, a Fortune 100 company, are based in the U.S.
Industry
- Personal Protective Equipment – The transaction focuses on the acquisition of Honeywell's PPE business by PIP, indicating the industry's relevance.
- Legal Services – Stratulat Albulescu provided legal advisory services for the Romanian aspects of the deal.
- Technology and Manufacturing – Honeywell is a major player in technology and automation, reflecting the broader industrial setting of the transaction.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Stratulat Albulescu | Legal Advisor | Companies | A Romanian law firm providing legal advice for the acquisition's Romanian aspects. |
| Protective Industrial Products (PIP) | Buyer | Companies | A global supplier of PPE and a portfolio company of Odyssey Investment Partners. |
| Honeywell | Seller | Companies | A global technology firm divesting its PPE business as part of a strategic portfolio optimization. |
| Odyssey Investment Partners LLC | Private Equity Owner | Companies | A private equity firm owning PIP. |
| Silviu Stratulat | Legal Advisor | People | Managing Partner leading the Stratulat Albulescu Corporate/ M&A advisory team. |