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New independent company will build on the legacy of Intelligrated to deliver industry-leading material handling and warehouse automation solutions
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.
About American Industrial Partners
American Industrial Partners is an operationally oriented industrials investor with approximately $17.5 billion in assets under management. AIP seeks to achieve differentiated returns by investing in quality engineered products businesses with strong management teams and working with those teams to implement transformative Operating Agendas to build long-term value. The AIP team has deep roots in the industrial economy and has actively invested across three economic cycles. AIP has completed over 145 platform and add-on acquisitions and invests in all forms of corporate divestitures, management buyouts, recapitalizations, and going-private transactions of established businesses with sales greater than $500 million. Current AIP portfolio companies generate aggregate annual revenues of approximately $29 billion and employ 70,000+ employees as of December 31, 2025. www.americanindustrial.com
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For American Industrial Partners:
Pro-AIP@prosek.com
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SOURCE American Industrial Partners
