Honeywell Acquires Saia Burgess Controls For $130M
Honeywell (NYSE: HON) announced today an agreement to acquire Saia Burgess Controls, a leading provider of intelligent building controls, from Hong Kong-based Johnson Electric for $130 million.
Saia Burgess Controls' products and solutions include programmable controllers, touch-screen panels, electrical submeters, counters and timers for use in HVAC applications, energy management systems and machine and infrastructure controls. These products and solutions enable multiple technologies to be operated and managed on a single device, such as a Web browser, simplifying and improving building management and automation for commercial and industrial enterprises. The transaction is expected to close by the end of January 2013 following customary regulatory reviews.
With 2011 sales of $93 million (fiscal year ending March 31, 2012), Saia Burgess Controls enhances Honeywell's intelligent building controls portfolio, which includes recently acquired INNCOM, as well as the Alerton, Centraline, E-MON, Trend, Novar Controls, Phoenix Controls and Tridium brands. In addition, the acquisition expands Honeywell's energy controls presence in Austria, Germany and Switzerland.
Based in Murten, Switzerland, Saia Burgess Controls has more than 300 employees and serves customers throughout Europe through a network of more than 500 system integrators. It will be integrated into the commercial controls portfolio of Honeywell's Environmental and Combustion Controls (ECC) business.
"Saia Burgess Controls' innovative products enhance Honeywell's portfolio of commercial controls and energy efficiency technology and builds on our expertise in open control systems," said Beth Wozniak, president-ECC. "In addition, its commitment to the system integrator channel – a sales channel we also support – is a great fit for us. We expect to drive growth through cross-selling opportunities and by leveraging Saia Burgess Controls' offerings into our other channels."
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