Protective Industrial Products Acquires Honeywell PPE Unit
Deal News | Jun 03, 2025 | CEE Legal Matters
Protective Industrial Products, a manufacturer and supplier of personal protective equipment and a portfolio company of Odyssey Investment Partners, has acquired Honeywell's personal protective equipment business. The acquisition includes several well-known PPE brands such as Fendall, Fibre-Metal, Howard Leight, KCL, Miller, Morning Pride, North, Oliver, and Salisbury. This transaction marks Honeywell's complete exit from the PPE market following its previous divestment of the Lifestyle and Performance Footwear division in 2021. Stratulat Albulescu and Paksoy, along with Latham & Watkins, advised Protective Industrial Products, while EY Legal Romania and Simmons & Simmons represented the sellers.
Sectors
- Personal Protective Equipment
- Private Equity
- Legal Services
Geography
- United States – Honeywell, as the seller, is headquartered in the United States, making it a significant geographical focus of the transaction.
- Romania – Stratulat Albulescu, one of the advising law firms, is based in Romania, indicating its involvement in the legal aspect of the transaction.
- Turkey – Paksoy, a law firm involved in advising, is based in Turkey, making it geographically relevant to the operations in the transaction.
Industry
- Personal Protective Equipment – The industry directly relates to the manufacturing and distribution of products designed to protect individuals in various environments, which is the main focus of the transaction.
- Private Equity – Odyssey Investment Partners, a PE firm, owns the target company, Protective Industrial Products, and is actively involved in expanding its portfolio through acquisitions.
- Legal Services – The involvement of multiple law firms such as Stratulat Albulescu, Paksoy, and others highlights the crucial role of legal advisories in facilitating the transaction.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Protective Industrial Products | Buyer | Company | A manufacturer and supplier of personal protective equipment and a portfolio company of Odyssey Investment Partners. |
| Honeywell | Selling Company | Company | A multinational conglomerate previously involved in the personal protective equipment business, now exiting this sector. |
| Odyssey Investment Partners | Private Equity Firm | Company | A private equity firm that owns Protective Industrial Products, ensuring strategic expansion through acquisitions. |
| Stratulat Albulescu | Legal Advisor | Company | A legal firm advising Protective Industrial Products on the acquisition. |
| Paksoy | Legal Advisor | Company | A legal firm advising Protective Industrial Products on the acquisition. |
| Latham & Watkins | Legal Advisor | Company | A legal firm working with Stratulat Albulescu and Paksoy to advise Protective Industrial Products. |
| EY Legal Romania | Legal Advisor for the Seller | Company | A legal firm advising the sellers, potentially representing Honeywell's interests in the transaction. |
| Simmons & Simmons | Legal Advisor for the Seller | Company | A legal firm advising the sellers, potentially representing Honeywell's interests in the transaction. |