American Industrial Partners ("AIP"), an operationally oriented industrials investor, today announced that a fund managed by it has signed a definitive agreement to acquire the Warehouse and Workflow Solutions ("WWS" or "the Company") business of Honeywell (NASDAQ: HON). Terms of the transaction were not disclosed.

WWS, which generated approximately $935 million in revenue in 2025, is a leading provider of material handling and warehouse automation solutions, including projects, services and products such as automated sortation systems, palletizers, conveyors and robotics solutions, as well as aftermarket services and software. Built on the legacies of Intelligrated and Transnorm, the business serves a global customer base and is supported by more than 3,300 employees.

AIP's investment in WWS builds on its existing investment in Trew, a U.S.-based manufacturer and integrator of automated material handling systems and software.

"As demand for warehouse automation continues to grow, driven by e-commerce, labor shortages, and supply chain digitization, WWS is well-positioned to capitalize on these tailwinds," said Murray Grainger, Partner at AIP. "Built on the strong foundation of the Intelligrated platform, the business combines leading technology, a broad installed base, and longstanding customer relationships. We look forward to partnering with the WWS and Trew teams to create a complementary platform that builds on these strengths and support the Company's next phase of growth."

"Intelligrated and Transnorm are highly regarded brands in warehouse automation, built on the strength of their people and long-standing customer relationships," said Alfred Rebello, Trew CEO. "We are excited to partner with the WWS team to build on these foundations and continue delivering for customers."

The transaction is subject to customary closing conditions, including the receipt of required regulatory approvals, and is expected to close in the second half of 2026. Evercore is acting as exclusive financial advisor to AIP. Ropes & Gray LLP is acting as transaction and financing counsel, and Baker Botts LLP is acting as regulatory counsel to AIP.

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