Questor Partners Fund II LP and Honeywell have reached an agreement in principle for Questor to acquire Honeywell's Friction Materials business, which supplies brake products to transportation industries.
Brand names involved include Bendix, JURID, and RoadTuff. Products are used in light-, medium-, and heavy-duty trucks, trailers, and other transportation applications.
The friction materials operation is a separate business unit from Bendix Commercial Vehicle Systems, which will remain a part of Honeywell.
Terms of the transaction, which is expected to be completed this year, were not disclosed.