Any idea if anyone has news on IGS / PSS sale/spinoff/JV news? whats the motion as folks are RF for almost 6 months and still counting.
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If you're one of those people who are set in working the Honeywell way and unwilling to change, it'll be a bad thing. If you're willing to change whats obviously not working, it'll be a good thing.
@dn1 is it a good or bad ?
@czb it’s Brady Corp for PSS.
@cza I wouldn't put it past Chris and Jim. There's a lot of overlap though...
I've heard from a source that I trust that Trew is the purchaser. Build up a company, sell it, buy it back for pennies on the dollar. This has been done twice now.
@cna founders of Intelligrated. They sold Intelligrated to Honeywell in 2016.
@c4g who are these guys?
@c4g
Those two certainly know how to run a company and make money.
Chris Cole and Jim McCarthy were seen at the Intelligrated office
Any update here or still not?
@av2 Blue yonder (Panasonic)?
I still don’t understand how this company is surviving? Are y’all getting new orders
Blue is the new Orange
are there still no rumors?
@5cz well aren't you special.
@5ck if your reporting to a VP or GM you know. Clearly none here.
No clue, someone must've seen buyers representatives walking around the office...
They seem to be keeping it under raps but the definitely have a buyer from what I’ve heard from management. Any ideas? Announcer probably within a few weeks.
Any news on buyer yet ?
What a joke. A company ran by Texas ranger and a 7/11 controller. Not to mention the used car salesman. Run!
@19g What was in the call?
@10v all I have heard recently is that an annoucement likely in March. That coincides with a post saying the same a month ago. I don’t see how it’s anything but PE but that’s speculation at its finest.
IGS Mexico has a last minute call today!?!
@x6 The Fortna layoffs could very well be a sign of an acquisition. Improve margins ahead of board approval, make room for incoming headcount. In a few weeks or months we should know. Then there will probably be a post integration layoff round (isn't there always?)
@x6 why do you still work there?
@10h what does that mean ? Can you explain bit more
Announcement in March for PSS has legs. To who? No clue. Probably PE.
Hoping last week’s Fortna layoff isn’t a sign of them freeing up money to go after IGS. I can’t imagine a more dysfunctional company than Honeywell, but Fortna’s layoffs are even more routine than Honeywell’s and I hear that their culture is just as toxic.
Meanwhile guys are leaving. Without replacements.
Point in case — PPE business. Honeywell bought norcross ppe for 1.2B in 2008 or so. Sold for 1.3B in late 2024. Aka — at a loss.
Honeywell doesn’t sell businesses it pays others to come clean up the dead bodies, usually under the table in gold. Welcome to the continental.
IGS perspective - I heard that they are trying to finish revamping the customer experience hallway in front of the executive wing by end of January so they can walk potential buyers through.
Also heard that they have their “package” together that defines what’s on the table (what’s included in a sale, scope of a JV, etc) and probably an undisclosed “bottom dollar” should they choose to sell.