Investment firm American Industrial Partners announced Monday that it has completed its acquisition of Honeywell’s warehouse automation business.
Honeywell originally announced an agreement for AIP to buy the "Warehouse and Workflow Solutions" segment in April. The deal will combine Honeywell’s Intelligrated and Transnorm platforms under “one organization” with AIP’s Trew.
Company officials said that the combined operations would be among the industry's “most comprehensive portfolios of equipment, software and services” for automation solutions across the manufacturing, distribution, e-commerce, retail and parcel sectors. Its capabilities will include systems integration, conveyor, sortation, robotics, automated storage and retrieval (AS/RS), palletizing, software, controls and lifecycle services.
Trew CEO Alfred Rebello was named CEO of the combined platforms, which will employ more than 3,700 people across four continents and generated over $1 billion in revenue last year. Financial terms of the deal were not disclosed.
Robello noted in the announcement that the warehouse automation market is projected to see double-digit growth into the following decade.
"Bringing these businesses together is a growth strategy targeting a growing market,” Rebello said.
