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Joele Frank handles Honeywell as the conglomerate plans to split into three independent aerospace, automation and advanced materials companies.
Activist investor Elliott Management pressed for the break-up of the 119-year-old company to maximize value for shareholders.
The Honeywell move follows a review of its business portfolio by the board of directors that was launched a year ago by CEO Vimal Kapur.
He said the formation of three independent industry-leading companies, each pursuing their growth strategies, will unlock significant value for shareholders and customers.
Honeywell Automation generated $18B in 2024 revenues, while Honeywell Aerospace chalked up $15B in sales, and Advanced Materials posted $4B in revenues.
One of the last US conglomerates, Honeywell is following the break-up strategy used by General Electric, United Technologies, 3M and Alcoa.
Joele Frank, Wilkinson Brimmer Katcher has Matt Sherman and Joe Sala working the Honeywell separation.
Prosek Partners handles New York’s Tilray Brands, craft beer & cannabis operation, as it acquires BrewDog, a leading British independent beer producer in the UK, for $45M.
Brunswick Group handles Zurich Insurance as it agrees to buy UK-based Beazley specialty insurer in a deal valued at $11B.
FGS Global represents Brink’s as it agrees to acquire NCR Atleos, which relies on Collected Strategies, in a $6.6B cash & stock deal to create a leading fintech infrastructure company. (Updated)
A January article in O’Dwyer’s proposes that in 2026, the strongest financial brands will not simply tell compelling stories—they will “signal readiness.”
C Street Advisory Group is working the Chapter 11 filing of Axip Energy Services as it unloads its nearly all of its assets to deal with a heavy debt load.
