M&A: Emerson acquires TopWorx; Honeywell buys Norcross
Emerson acquired TopWorx, a manufacturer of industrial sensors and controls used for valves; and Honeywell completed acquisition of Norcross Safety Products LLC, a manufacturer of Personal Protective Equipment (PPE). Details follow.
Austin, TX, and Morris Township, NJ – Emerson acquired TopWorx, a manufacturer of industrial sensors and controls used for valves for an undisclosed amount; and Honeywell completed acquisition of Norcross Safety Products LLC, a manufacturer of Personal Protective Equipment (PPE), for approximately $1.2 billion. Honeywell said it would form Honeywell Safety Products within Honeywell Life Safety, part of Honeywell Automation and Control Solutions (ACS). Details of the automation-related mergers and acquisitions (M&A) follow.
Emerson made TopWorx part of Emerson Process Management , expanding its valve instrument product line and extending the reach of PlantWeb digital plant architecture to on/off valves and other instruments. TopWorx Valvetop discrete valve controllers connect on/off valves to fieldbus networking protocols, and GO Switch leverless limit switches provide position sensing in harsh environments. The company has locations in the UK, Singapore, and South Africa.
"TopWorx is a strong and growing business that is highly valued by its customers," said John Berra, president, Emerson Process Management. "The acquisition gives us a quick and significant entry into the discrete instrumentation market, and is highly complementary to our existing valve, valve automation, and instrument businesses. TopWorx will extend the benefits of our PlantWeb digital plant architecture, and enable us to provide a complete valve instrument portfolio, both wired and wireless."
Charlie Marcum, president of TopWorx, added, "It is exciting to join what I consider the best and most progressive company in our industry. Emerson Process Management's global reach and technology leadership will accelerate our growth and broaden our product offering, enabling us to serve customers even better than before."
In the Honeywell transaction, Norcross (Oak Brook, IL) is described as one of the largest providers of personal protective equipment, providing integrated head-to-toe solutions for those who whereloves, and arc flash protection, Honeywell says. Norcross sells products under names that include North, KCL, Fibre-Metal, Morning Pride, Pro-Warrington, Salisbury, and Servus and maintains an extensive distribution network with more than 2,500 locations.
“We’re excited to have the opportunity to participate in the dynamic growth of the personal protective industry,” says Mark Levy, president, Honeywell Life Safety. “Norcross is an ideal fit for Honeywell. Together, we combine rich histories of delivering safety products, services and technologies that meet customer needs, while complying with the very strict regulations that the industry demands.”
“Norcross offers us leading safety products with technology differentiation and one of the strongest, most recognizable brands in the industry,” says Levy. “As we initiate a robust integration process, we expect to maximize the sales potential of the Norcross portfolio by expanding the channels in which they are offered. Consistent with our previous acquisitions in gas detection and fire systems, we’ll focus on delivering profitable, sustainable growth to Honeywell by extending our already strong position in the $20 billion global Life Safety marketplace.”
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After almost a decade of uncertainty, the confidence of plant floor managers is soaring. Even with a number of challenges and while implementing new technologies, there is a renewed sense of optimism among plant managers about their business and their future.
The respondents to the 2014 Plant Engineering Salary Survey come from throughout the U.S. and serve a variety of industries, but they are uniform in their optimism about manufacturing. This year’s survey found 79% consider manufacturing a secure career. That’s up from 75% in 2013 and significantly higher than the 63% figure when Plant Engineering first started asking that question a decade ago.