HONEYWELL INTERNATIONAL INC acquired King's Safety Shoes (King's Safetywear) for $331 million, a transaction completed in December 2011, structured as Cash acquisition (purchased from Navis Capital Partners; included assumption of debt).
King's Safety Shoes (King's Safetywear) operates in Safety and Productivity Solutions (Honeywell Safety Products), is based in Singapore (manufacturing and sales across Asia). King's Safetywear Limited is an international manufacturer of branded industrial safety footwear, selling under the KING'S, OTTER and OLIVER brands to heavy and light industry across Asia. Honeywell acquired the company from private-equity owner Navis Capital Partners to expand its personal protective equipment business, especially in high-growth Asian markets.
Broadens Honeywell's protective-footwear and PPE portfolio and strengthens its presence in fast-growing Asian industrial-safety markets.
Advisory firms were not disclosed for this transaction.