Benesch is pleased to announce its role as legal counsel to Honeywell (NASDAQ: HON) in the successful completion of the spin-off of its Advanced Materials business, now operating as Solstice Advanced Materials. Shares of Solstice common stock began trading on the Nasdaq Stock Market under the ticker symbol "SOLS".
This transformative transaction marks a significant milestone in Honeywell’s ongoing strategy to create three independent, industry-leading companies, each with a focused strategy and growth trajectory. The Benesch team played a central role in leading the spin-off workstream, including comprehensive contract analysis and the separation of the businesses, ensuring a seamless transition for all parties involved.
The year-long project involved more than 50 Benesch attorneys from a range of practice areas, reflecting the firm’s collaborative and business-minded approach to complex corporate transactions. The team’s efforts were instrumental in navigating the legal and operational intricacies of the spin-off, which was completed through the distribution of Solstice common stock to Honeywell shareowners of record.
“We are proud to have partnered with Honeywell on this landmark transaction,” said Andrew Glickman, the Benesch Corporate Practice Group partner who led the deal. “Our team’s dedication and proficiency in handling sophisticated corporate matters enabled us to deliver strategic solutions and support Honeywell’s vision for long-term growth and value creation.”
The successful completion of this transaction underscores Benesch’s commitment to providing accomplished legal counsel in high-value, multifaceted business matters, and further solidifies the firm’s reputation for guiding clients through transformative corporate events.
The team, led by Andrew Glickman, Kevin W. Humphries and Injune Park, also included Melissa R. Grim, Thomas Hughes, Daniel S. Marks, Emily L. Morrison, Laura Mehl Sugarman, Gilbert J. Villaflor, Samantha J. Barbara, Jonathan N. Fox, Trisha L. Appel, Pooja Bhaskar, Logan Bryant, Emily Dworkin, Mary Frances Gardner, Patrick Manning, Trevor Martin, Shanae Nelson, Joel Pruett, Dylan M. Rosenfield, Lizbeth Aviles, Roger Boyer, Jack Kunkel, Zach Love, Nicholas Meyerson, Marc G. Policastro, Katie Potrzeboski, Alexa Shook, Julius A. Zavala and Kaitlyn Keeley.
Learn more about the transaction.