Pros
Fast-paced and entrepreneurial. If you are looking to truly own and run a business at the VP/GM level and have experience in industrials/B2B this is a good place to have some autonomy and really cut your teeth. Imagine a much less sophisticated Danaher or ITW. Additionally, depending on the business, you'll get a lot of exposure to global markets and pretty direct contact with customers. Within the business units, this is not a very hierarchical structure and - if you are running a business - you are expected to know every nook and cranny including a level of intimacy with your customers that is not expected at a GE, 3M, Honeywell, etc...
Cons
If you are not highly ops or P&L focused/driven this place isn't really for you. Even within the technical side, a lot of the R&D muscle and dollars have been pulled out to solely focus on known entity/high confidence development projects. You won't have the opportunity to simply innovate freely. The top-down pressures to exceed any number that is put on paper are immense and ripple throughout the organization. The Mission - making the world healthier, safer and more productive - is a good internal rah-rah driver for those who connect with it. Though it's pretty easy to punch holes in it once you look at the full portfolio of companies.