Protective Industrial Products, Inc. (PIP®) has announced that it has entered into a definitive agreement to acquire Honeywell’s Personal Protective Equipment (PPE) Business. This acquisition includes some of the industry’s most respected brands, such as Fendall, Fibre-Metal, Howard Leight, KCL, Miller, Morning Pride, North, Oliver, Salisbury, and UVEX, among others. PIP, a portfolio company of Odyssey Investment Partners, LLC, is poised to expand its global reach with this strategic purchase.
The acquisition encompasses Honeywell’s well-established PPE product portfolio, which has a strong reputation for offering world-class personal protective equipment to a diverse customer base across the globe. The PPE Business has a broad global footprint, with over 25 distribution and manufacturing locations worldwide, serving customers through a network of distributors.
Curt Holtz, President and CEO of PIP, expressed enthusiasm about the acquisition, noting, “We are delighted to welcome these brands, capabilities, and new employees into PIP. The acquisition of Honeywell’s PPE Business complements our existing operations and strengthens our position in the market. By expanding our portfolio of trusted brands and enhancing our geographic reach, we will be able to offer even more opportunities for growth and better serve our customers globally.”
PIP’s commitment to providing innovative, comprehensive, and reliable head-to-toe protective solutions remains central to the company’s operations. Holtz further emphasized, “We are focused on being a trusted partner for our customers, working closely with them to provide safety solutions that meet their needs. This acquisition allows us to build on the strength of these respected brands while enhancing our customer service and expanding our market reach.”
Following the acquisition, Michael Garceau, President of the Honeywell PPE Business, will continue in his role and report directly to Curt Holtz. Garceau expressed confidence in the transition, stating, “This acquisition marks an exciting next step for our business. PIP has a solid reputation for providing proven safety solutions and excellent customer support. Together, we look forward to creating a leading provider of protective equipment and safety products that will continue to serve our customers, suppliers, and employees with excellence.”
Craig Staub, Senior Managing Principal at Odyssey Investment Partners, also weighed in on the acquisition, expressing strong support for PIP’s growth. “We are excited to support PIP’s continued growth through this transformational acquisition. Odyssey has extensive experience in the PPE and industrial safety sectors, and we believe this acquisition will position PIP as a global leader with a diversified product offering and comprehensive international presence. We are confident that PIP’s leadership team will execute a seamless integration and continue scaling the company’s platform.”
The acquisition, which is expected to be finalized by the first half of 2025, is subject to the usual closing conditions.
About Protective Industrial Products, Inc.
Founded in 1984 by Joe Milot and Wellson Tao, PIP® is a leading global provider of a broad range of personal protective equipment. The company’s offerings include hand protection, above-the-neck protection, workwear, and footwear. Headquartered in Latham, NY, PIP operates across 35 locations in 18 countries, including Canada, Mexico, and several European and Asian markets. The company partners with distributors and retail networks worldwide to supply more than 20,000 PPE products across diverse industrial sectors. PIP’s well-known brands include PIP®, G-Tek®, Boss®, Bouton Optical®, Grippaz®, and Bisley Workwear®, along with licensed brands like PUMA® Safety Footwear.
About Odyssey Investment Partners
Odyssey Investment Partners is a leading private equity investment firm with over 25 years of experience partnering with skilled managers to transform middle-market companies into more efficient and diversified businesses. Odyssey focuses on industrial and business services sectors with long-term growth potential and favorable market trends. The firm employs a buy, build, and integrate strategy to drive value creation and position its portfolio companies for sustained success.
