Honeywell Buys King's Safetywear For $338M

Law360, New York (November 1, 2011, 12:54 PM EDT) -- Honeywell International Inc. has agreed to buy Singapore-based branded safety footwear provider King's Safetywear Ltd. from Malaysian private equity firm Navis Capital Partners for about $338 million, Honeywell said Tuesday.

The purchase price is about 11 1/2 times greater than King's estimated earnings before interest, taxes, depreciation and amortization for 2011, and King's expects about $138 million in sales for 2011, Honeywell said.

The deal, which is still subject to regulatory approval and other conditions, is expected to close in early 2012, Honeywell said.

King's products...
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