Alantra advised IK Investment Partners on the sale of Transnorm Group to Honeywell International Inc. for approx. €425m

Sep 2018

Sell-side advisory

Alantra has advised IK Investment Partners (”IK”) on the sale of Transnorm Group (“Transnorm” or “the Company”), a leading provider of automation technology used in parcel, distribution and e-commerce warehouses, to Honeywell International (“Honeywell”) (NYSE: HON). This is the second time that Alantra has advised on the sale of Transnorm, after the sale of the company from HQ Equita to IK in 2014. Alantra has acted as the M&A adviser to IK and ran a competitive auction process involving both strategics and private equity firms globally. At Alantra, the Industrial Automation & Machinery team in Frankfurt led the sale process, supported by its global offices for local buyer access. It was announced today, that Honeywell entered into an agreement with IK to acquire Transnorm for approx. €425m. Completion of the transaction is subject to merger control approvals.

Founded in 1957, Transnorm has grown to become a global market leader for high-performance engineered conveyor solutions. The Company serves a global blue-chip customer base with strong relationships to all major system integrators as well as global parcel and e-commerce companies. In addition to its broad product portfolio, Transnorm also offers for its installed base of c. 160.000 units aftermarket services comprised of spare parts, maintenance and repair as well as training to its customers. Transnorm is headquartered in Harsum, Germany, with additional production sites in Arlington, United States and Bangkok, Thailand. Honeywell is a Fortune 100 software-industrial company that delivers industry specific solutions that include aerospace products and services, control technologies for buildings and industry, and performance materials globally. Honeywell is headquartered in the US and generated approx. $40bn revenues in 2017. Transnorm will be part of Honeywell’s Safety and Productivity Solutions division.

“We are very satisfied with the outcome of this transaction and are convinced Honeywell is the right long-term partner for Transnorm. With Alantra we have chosen the right partner for this transaction, and were very impressed by their sector knowledge, access to the global buyers, and senior level involvement throughout the whole process.” said Anders Petersson, Partner at IK.

“We were very pleased to work with the Alantra team again. I have been impressed with their understanding of our business, their expertise within the Industrial Automation industry and the commitment that the entire team provided throughout the whole process”, said Sidy Diop, Member of the Management Board.