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Oct 15, 2024

Honeywell in Talks to Sell PPE Unit for $1.5 Billion as Strategic Shift Continues

NEW YORK, Oct. 11, 2024 Honeywell International (HON,Financial) is exploring the sale of its popular personal protective equipment (PPE) unit to private equity firm Odyssey Investment Partners is a

NEW YORK, Oct. 11, 2024 Honeywell International (HON,Financial) is exploring the sale of its popular personal protective equipment (PPE) unit to private equity firm Odyssey Investment Partners is a $1.5 billion deal, according to a Bloomberg report. Moreover, the deal could be finalized within the coming weeks, although the details are being ironed-out and could potentially face delays or fall through.

Moreover, its important to note that the likely sale follows a report from April, which shows that that Honeywell was looking to offload its PPE business with demand waning post-pandemic. Naturally, the unit was a monster hit during the pandemic years, with high demand for face masks and other protective gear. Its important to note that the news comes shortly after Honeywell announced plans earlier this week to spin-off its advanced materials unit, pointing to a strategic shift for the industrial giant.

As we look ahead, the company is set to report its Q3 earnings on Oct. 24, with shares rising 0.49% on Friday following the news of the PPE unit sale talks..

This article first appeared on GuruFocus.