Smart Buildings

Honeywell Spinoff of Building & Industrial Automation Businesses into New Public Company

This Research Note examines the announcement of a new Honeywell Automation public company which will be formed from the spinoff of Building Automation (BA) and Industrial Automation (IA) businesses, reported in their Q4-2024 earnings call, on 6th February 2025. We also review the FY 2024 results and outlook for the Building Automation segment, highlighting its acquisitions and investments before presenting our view of the organizational change. Honeywell Conglomerate Breakup Following a one-year portfolio review, Honeywell announced the breakup of its conglomerate into 3 separate public companies consisting of Aerospace, Automation, and Advanced Materials businesses.  The separation is intended to be completed in the second half of 2026. This move has been on the cards for a while. It was pushed by activist Elliott Investment Management, who announced last November that they had built up a $5 Billion stake in Honeywell (one of its largest stakes ever) and was advocating for the company to split into […]

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