Milwaukee-based Brady Corp., a global manufacturer of identification, safety and compliance products, announced Monday that it has entered into an agreement to buy Charlotte, North Carolina-based Honeywell International Inc.’s Productivity Solutions and Services (PSS) business in an all-cash $1.4 billion deal.

The sale price represents a transaction value of approximately 8x EBITDA for 2025.

The purchase includes Honeywell’s PSS business, which consists of a suite of hardware, software and service offerings enabling automated data collection and tracking for mobile computers, barcode scanners, printing solutions and voice guidance, according to a press release. The PSS business is based in Fort Mill, South Carolina and operates globally with approximately 3,000 employees across North America, Europe, Latin America and Asia. PSS generated sales of approximately $1.1 billion in 2025.

The company said making the deal with Honeywell is a “natural next step” in accelerating all aspects of the company.  

Operating as part of Brady Corp. the PSS business will continue to serve clients in the growth logistics, manufacturing, warehousing and retail verticals.

The deal will allow Brady Corp. to scale its pairings with Honeywell’s mobile devices, barcode scanning, radio frequency identification (RFID) and workflow software. It’s also expected to enable better data capture, provide opportunities for increased recurring revenue, and immediately boost earnings per diluted share, saving an expected $25 million within the first three years following the deal and decreasing debt in the first two years.

The deal is slated to close in the second half of 2026 and will be funded via cash on hand and new debt financing from Brady Corp., according to the press release.

“The acquisition of Honeywell’s PSS business will significantly expand our portfolio into leading-edge mobility and scanning solutions, which are trusted by the largest transportation, warehousing and logistics companies in the world,” said Brady Corp. president and CEO Russell Shaller. “The combination of Brady and PSS will create a more comprehensive solutions offering for a broad set of customers, bringing together Brady’s high-performance printing, software, scanning and specialty adhesive materials with PSS’s full suite of mobility, scanning and software… The addition of PSS’s product portfolio will enhance our earnings power and expand our global business into new market opportunities.”

The acquisition will have no effect on operations in Milwaukee.

To assist with the deal, New York-based Goldman Sachs is serving as financial advisor, Milwaukee-based Foley & Lardner is serving as legal counsel, and New York-based Collected Strategies is serving as strategic communications advisor for Brady Corp.

Brady Corp. employs approximately 6,400 people worldwide and generated $1.51 billion in sales last year. The company is currently expanding its headquarters facility at 6555 Good Hope Road on the city’s far north side by about 70,000 square feet. The project is expected to be completed by July 31 and will add 60 employees to its more than 1,000-person workforce in Milwaukee.

The expansion is unrelated to the acquisition, a company spokesperson said.