Protective Industrial Products, Inc. (PIP®) announced it has entered into a definitive agreement to acquire the Personal Protective Equipment Business of Honeywell, along with its leading brands Fendall, Fibre-Metal, Howard Leight, KCL, Miller, Morning Pride, North, Oliver, Salisbury, UVEX, and others.
PIP is a portfolio company of Odyssey Investment Partners, LLC.
The PPE business offers a comprehensive portfolio of world-class personal protective equipment products. It provides a broad range of well-known and highly respected brands to a very diversified customer base working with distributors across the globe. The PPE business includes a strong global footprint with more than 25 distribution and manufacturing locations around the world.
Curt Holtz, President and CEO of PIP, said, “We are delighted to welcome these brands, capabilities and new employees into PIP with the acquisition of Honeywell’s PPE business, which is highly complementary to our business. The combination of our expanded portfolio of brands and enhanced geographic reach will enable us to offer more growth opportunities for our valued customers around the world.”
“PIP is dedicated to serving as a trusted partner to our customers, listening and working closely with them to deliver innovative head-to-toe protective solutions that meet their needs and keep workers safe,” Holtz added. “We are excited to build on the strength of the PPE business’s brands and support them with best-in-class service and our flexible and responsive customer-focused approach.” Michael Garceau, President of the PPE business, will continue in that role, reporting to Mr. Holtz.
Mr. Garceau, said, “This is an exciting next chapter for our business. PIP has a strong reputation in our industry, with a 40-year track record of providing proven safety solutions and exceptional customer support around the world. We look forward to collaborating with the PIP team to build a leading pure-play provider of protective equipment and safety products that best serves our customers, suppliers and employees.”
“We are excited to support PIP in its continued growth through this transformational acquisition,” said Craig Staub, Senior Managing Principal at Odyssey Investment Partners. “Odyssey has a long history of investing in the PPE and industrial safety sector, and we are pleased to bring our expertise to bear in creating a full-service global leader with a diverse product offering and comprehensive international presence. We are confident in the PIP leadership team’s ability to execute a seamless integration process and continue scaling the growing PIP platform.”
The transaction, which is expected to be completed in the first half of 2025, is subject to customary closing conditions.
