BDO Capital Advisors Announces the Sale of Inncom to Honeywell
Boston, MA - June 4, 2012 - BDO Capital Advisors, LLC is pleased to announce that INNCOM International, Inc. (“INNCOM”) has been acquired by Honeywell International Inc. (NYSE: HON). As the exclusive financial advisor to INNCOM, BDO Capital prepared a confidential offering memorandum, identified and contacted a targeted group of potential buyers and assisted management in structuring and negotiating the transaction.
INNCOM, based in Niantic, Connecticut, is a leading manufacturer of advanced software-based energy management solutions and in-room controls for lodging, healthcare and educational institutions. Founded in 1986 and led by Chief Executive Officer Duane Buckingham, INNCOM’s devices are installed in more than 800,000 hotel rooms around the world, and another 10,000 rooms in hospitals, colleges-universities and military housing facilities. The breadth of INNCOM’s offerings, product innovation and demonstrated staying power have attracted lodging customers from mid-scale hotels to five-star luxury properties including Hilton, Sheraton, Four Seasons, Radisson and many others.
INNCOM’s acquirer, Honeywell International Inc. (“Honeywell”), is the leading global provider of automation solutions to help manage comfort and security. INNCOM will be integrated into Honeywell’s Environmental & Combustion Controls (“ECC”) business, a part of Honeywell Automation and Control Solutions (“ACS”), and will join the businesses’ other Honeywell commercial controls brands. ECC provides connected products that help keep 150 million homes, 10 million commercial buildings and a multitude of industrial facilities comfortable and energy efficient. ECC customers include original equipment manufacturers, commercial customers, homeowners, contractors, retail, building managers, consulting engineers and distributors. With 2011 revenue of $36.5 billion, Honeywell is a Fortune 100 diversified technology and manufacturing leader with approximately 132,000 employees in more than 100 countries.
BDO Capital Advisors sourced this transaction from its own proprietary referral network.