Honeywell said Friday that it has reached an agreement to sell First Technology Automotive and Special Products (FTAS) to Sensata Technologies B.V., a portfolio company of Bain Capital LLC. The deal is worth $90 million and is expected to close by the end of the fourth quarter.
FTAS designs, develops and manufactures high-value solutions for automotive sensors, electromechanical control devices and crash switch devices for automotive OEMs, Tier I automotive suppliers, large vehicle and off-road OEMs, and industrial manufacturers. Its 2005 sales were $69 million.
Based in Morris Township, New Jersey, Honeywell International is a $31 billion diversified technology and manufacturing leader, providing aerospace products and services, control technologies for buildings, home and industry, automotive products, turbochargers, and specialty materials.