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Permira Funds to sell Intelligrated to Honeywell for US$1.5 Billion

1st July 2016

Permira, the global investment firm, announced today that a company backed by the Permira funds has entered into a definitive agreement to sell Intelligrated, a leading North American-based advanced fulfillment solutions provider, to Honeywell in an all-cash transaction for US$1.5 billion.

Since being acquired by the Permira funds in 2012, Intelligrated has undergone a period of tremendous growth, which included:

  • Increasing its revenue by more than 90%;
  • Winning several major new customers, including UPS, Amazon, USPS, Nordstrom, Walgreens and Tesla, which has helped drive a 300% growth in the Company‚Äôs sales pipeline;
  • More than tripling R&D investment in new systems and capabilities, including an automated storage/retrieval system (AS/RS), a full parcel solution to compete in the high-growth global parcel market, and robotic solutions;
  • Significantly enhancing software capabilities and aftermarket services;
  • Strengthening the management team with key hires in software, aftermarket and sales;
  • Making three acquisitions to increase its software and parcel capabilities; and
  • Expanding its geographic reach into Brazil, China and Mexico, which are deep consumer markets still in the early days of e-commerce growth.

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