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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.
Omnicom’s PR units suffered a 8.6 percent decline in Q2 revenues to $372.9M.
Former AIG global head of corporate communications Emily Garbaccio is joining PGIM, the global investment management business of Prudential Financial, as chief communications officer.
Joele Frank handles Core Scientific as the data center infrastructure company, gets acquired by CoreWeave in a stock deal valued in the $9B range.
Edelman Smithfield handles Del Monte Foods Corp. as the nearly 140-year-old company files for Chapter 11 to revamp its balance sheet and put itself on the auction block.
Prosek Partners represents Brightstar Capital as the private equity firm completes the $1.1B deal to acquire PlayAGS, supplier of slot table and interactive products to the gaming industry.
