Milwaukee, Wisconsin — August 3, 2026 — ASRock Industrial announced Brady Corporation (NYSE: BRC), a world leader in identification, safety and productivity solutions, today announced that effective August 3, the Company has completed its previously announced transaction with Honeywell (Nasdaq: HON) to acquire Honeywell Technologies' Productivity Solutions and Services ("PSS") business. The all-cash, $1.4 billion transaction was funded with cash on hand, a senior unsecured credit facility and private placement debt, preserving substantial liquidity to support ongoing operations and future growth initiatives.
The business combination establishes Brady as a leading identification, safety and productivity solutions partner for businesses globally, leveraging Brady's strength in printers and consumables and PSS's leadership in mobile computing, scanning, RFID and workflow software. The PSS business generated sales of approximately $1.1 billion in 2025. As a scaled industrial technology company with enhanced capabilities, comprehensive solutions, and broader end-market exposure, we believe Brady is uniquely positioned to partner with customers to address their evolving needs.
In conjunction with the acquisition, Brady will be operated with two reportable segments. The existing Brady business will be reported as Identification Solutions and the PSS business will be reported as Intelligent Productivity Solutions.
Management Commentary
"Today marks the beginning of the next chapter for Brady as a leading industrial technology company, with enhanced capabilities and greater market access. The combination of Brady and PSS's portfolios creates an industrial technology leader with capabilities across identification, safety, connectivity, and intelligent workflow solutions. Brady now serves customers in nearly every end market, with an expanded portfolio designed to help customers improve productivity, safety and operational performance," said Brady's President and Chief Executive Officer, Vineet Nargolwala.
Mr. Nargolwala continued, "While this transaction significantly expands Brady's scale and capabilities, our approach and objectives remain the same: producing trusted products and services, consistent operational execution, disciplined capital allocation, and creating significant value for our teams, customers and shareholders. We welcome the over 3,000 members of the PSS team to Brady and together, we will build the next chapter of Brady."
The combined Company provides a Comprehensive Industrial Technology Platform
- Comprehensive technology portfolio: Product portfolio adds scale and extends Brady into adjacent workflows, including mobile computing, barcode scanning, RFID and workflow software, complementing Brady's leading position in its printers and specialty adhesive materials portfolios.
- Expanded addressable market: Brady now has access to the $9 billion productivity solutions market, better positioning the Company to benefit from secular tailwinds across automation, digitization, and asset tracking as global companies continue to seek automation and efficiency opportunities.
- Increased recurring revenue opportunity: PSS's high-margin software and service offerings provide the Company with an opportunity to increase recurring revenue, improve long-term margin profile, and strengthen customer relationships.
- Compelling financial platform: The PSS acquisition is expected to be immediately accretive to Adjusted Diluted Earnings per Share* (approximately $0.80 within the first twelve months following the close of the transaction) with strong cash generation to support deleveraging. Brady expects to achieve a minimum of $25 million in annual run-rate cost synergies within three years of closing through improved operational efficiency. After accounting for transaction financing, Brady expects net debt-to-EBITDA* of approximately 2.5x, anticipating that it will deleverage to below 2.0x within two years following close. Brady is committed to maintaining a strong balance sheet to support its disciplined and consistent capital allocation strategy.
About Brady
Brady Corporation (NYSE: BRC) is a global industrial technology company and a leading provider of identification, safety, and productivity solutions that help organizations of all sizes to identify, connect, protect, track, and optimize what matters most. By combining trusted identification technologies with advanced data capture, enterprise mobility, software and workflow solutions, Brady's comprehensive offerings enable its customers to improve safety, productivity, accuracy, and operational performance across their most critical functions and in the world's most demanding environments. For more than 110 years, Brady has established trust and demonstrated its commitment to innovation, serving customers across manufacturing, logistics, healthcare, electronics, telecommunications, aerospace, construction, and other key industries, to make their work safer, smarter, and more connected. Headquartered in Milwaukee, Wisconsin, Brady employs approximately 9,400 people worldwide. Brady stock trades on the New York Stock Exchange under the symbol BRC. Learn more at www.bradyid.com.
Investor and Media Contacts
Investor contact: Ann Thornton 414-438-6887
Media contact: Kate Venne 414-469-2768
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