Multinational conglomerate Honeywell’s decade-long embrace of the supply chain marketplace has come to an end. As part of its divestiture plan to spin off its Aerospace and Automation businesses into two separate companies, Honeywell has sold off its Warehouse and Workflow Solutions (WWS) business to private equity firm American Industrial Partners (AIP). Terms of the transaction, as they say, were not disclosed.
The WWS business includes the Intelligrated brand, one of the best-known material handling systems integrators and warehouse automation providers, which Honeywell acquired in 2016 for $1.5 billion from Permira, another private equity firm. Cincinnati-based Intelligrated was founded in 2001 and grew significantly in 2009 when it acquired FKI Logistex, a company whose product lines included conveyors, palletizers and sortation equipment. According to Honeywell, the WWS division generated $935 million in revenue in 2025; in addition to Intelligrated, that division also includes the Transnorm brand, a German provider of sortation and conveyor solutions largely used by airports and parcel carrier facilities.
AIP’s existing portfolio already includes investment in Trew, another Cincinnati-based provider of material handling solutions. Both Honeywell Intelligrated and Trew exhibited (separately) at MODEX 2026 last week in Atlanta.
That’s not the only supply chain technology-divesting Honeywell accomplished this week. The company has also sold off its Productivity Solutions and Services (PSS) business to Brady Corporation, a manufacturer of identification and protection solutions, for $1.4 billion in an all-cash transaction. The PSS division, which provides barcode scanners, printers and mobile computers for the warehouse and logistics market, generated $1.1 billion in 2025.
Both the WWS and PSS sell-offs are expected to close in the second half of 2026.
