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. The transaction was overseen by Managing Director Valentina Midura with support from Director Kevin Sendlenski and Analyst Lyndsay Ronan from BDO Capital Advisors’ Boston office.
 

ABOUT BDO CAPITAL ADVISORS, LLC
BDO Capital Advisors, LLC is a leading middle market investment bank that focuses on mergers and acquisitions advisory, capital raising, and board advisory with offices located throughout the United States. The firm has deep industry knowledge, extensive cross-border transaction experience, and superior execution capabilities. BDO Capital Advisors, LLC provides sell-side and acquisition advisory, ESOP advisory, private placements, fairness opinions, and capital markets advisory. The firm has broad industry expertise and contacts having closed transactions within the Manufacturing & Distribution, Consumer, Food & Retail, Healthcare & Life Sciences, Business Services, Energy & Natural Resources, and Technology, Media & Telecom sectors. Our seasoned investment bankers have collectively advised on hundreds of transactions for a variety of clients including family-owned businesses, entrepreneur-led companies, public corporations, and leading private equity firms.

The firm has worldwide access to buyers, sellers, and offshore investors via the Corporate Finance practices of BDO International’s network of independent member firms which have been ranked collectively as a Top 5 global M&A midmarket advisor based on total deal volume announced in 2016, according to Thomson Reuters SDC. BDO International Corporate Finance firms operate in approximately 60 countries with over 2,000 professionals who are able to meet the investment banking needs of clients across the globe.