Honeywell International Inc. has agreed to buy Norcross Safety Products LLC, a privately held maker of protective equipment, for about $1.2 billion. Norcross owns several shoe brands in the work, hunting and outdoor space. These include Ranger, XTRATUF, Servus, Northerner, The Original Muck Boot Company, and NEOS (New England Overshoe Co., Inc.)
Norcross, majority owned by Odyssey Investment Partners and based in Oak Brook, IL, posted about $609 million in revenue last year. It also makes products ranging from respirators and protective footwear to helmets and gloves. Honeywell plans to integrate Norcross into its Honeywell Life Safety unit, which is a part of the automation and control group.
Norcross's senior management team, led by Robert A. Peterson, president and CEO, and David F. Myers, Jr., EVP and CFO, will continue to lead the business as part of Honeywell.
