Article: Deals
The Great Unbundling: Why Carve-Outs Are Now the Default Industrials Deal
Carve-outs are now the default form of industrials M&A, not the exception. Nearly 69% of industrial companies completing a $5 billion plus acquisition since 2021 have also divested a business in the same period, rising above 86% for serial acquirers, reported by PwC, with Honeywell's three-way split as the clearest public example.
