Honeywell has entered into a “definitive agreement” to acquire Xtralis (the provider of advanced perimeter security and aspirating smoke detection systems) for $480 million from funds advised by Pacific Equity Partners and Blum Capital Partners.
Xtralis’ aspirating smoke detection solutions protect many Fortune 500 companies, iconic sites and critical infrastructures worldwide. They’re used in Data Centres, historical buildings, airports, industrial sites and manufacturing facilities to provide very early warning and verification of threats in order to speed response times and minimise damage to facilities as well as potential injuries.
“This acquisition fits perfectly with Honeywell’s technology innovation and leadership,” commented Alex Ismail, president and CEO of Honeywell Automation and Control Solutions. “Xtralis’ early smoke detection and advanced security technologies and video analytics software complement our growing security and fire business. This deal shows our commitment to making the world safer and more secure.”
Xtralis is headquartered in Dublin, Ireland, with approximately 500 employees across Europe, the Middle East, Africa, Asia Pacific and the Americas, and has more than 30 years’ fire and security experience.
The transaction is expected to close in the second quarter of 2016 subject to customary closing conditions (including regulatory approvals).
Critical infrastructure offer
“Xtralis is a fantastic addition to the Honeywell portfolio that strengthens our offer for critical infrastructure and high-value asset protection,” said David Paja, president of Honeywell Security and Fire.
“Eliminating downtime for an IT Data Centre is mission-critical considering that the average revenue loss due to a fire episode is more than $5 million per week. Adding Xtralis to our portfolio enhances our ability to meet the needs of our customers for early and reliable smoke detection.”
Xtralis is renowned for having pioneered the development of very early warning technology that can detect smoke in a facility during the initial stages of a fire, which gives emergency responders precious additional time to help prevent or minimise physical damage and injury.
Upon completion of the acquisition, Xtralis will become part of Honeywell Security and Fire, a business unit of Honeywell Automation and Control Solutions. Honeywell Security and Fire is a leading global manufacturer of electronic security and life safety technologies for both commercial buildings and industrial sites worldwide.