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Honeywell International Inc. is weighing a sale of its personal protective equipment unit amid fading post-pandemic demand and a realignment of the company's product portfolio.
The conglomerate is working with an adviser to explore strategic options for the business, including a sale that could value the unit at more than $2 billion, according to people familiar with the matter.
The business, which Honeywell had previously explored selling in 2020, is likely to be of interest to private equity firms, said the people, who asked not to be identified because they weren't authorized to speak publicly. No final decision has been made and Honeywell could elect to keep the business, the people said.
A Honeywell representative declined to comment.
Honeywell Chief Executive Officer Vimal Kapur is overseeing a realignment of the company's portfolio to focus on aerospace, energy transition, and automation systems for buildings and factories. He recently steered Honeywell to its largest deal in several years in December, when it agreed to buy Carrier Global Corp.'s security business for almost $5 billion.
Honeywell's PPE unit offers a range of products including respiratory protection, hearing aids, work boots and face masks, according to the company's website.
Posted In: HON
