Honeywell Acquires Sundyne in $2.2 Billion Deal to Boost Process Industry Capabilities
CHARLOTTE, N.C. (P&GJ) — Honeywell has completed its $2.16 billion acquisition of Sundyne, a maker of high-performance pumps and compressors for the process industries, the company announced on June 9.
The all-cash deal, made with private equity firm Warburg Pincus, is expected to immediately contribute to Honeywell’s sales growth, segment margins, and adjusted earnings per share in the first full year of ownership.
Sundyne brings to Honeywell a workforce of around 1,000 employees and significant aftermarket revenue tied to a large installed base of equipment. Its offerings will expand Honeywell’s Energy and Sustainability Solutions (ESS) portfolio, integrating critical equipment with automation and control systems powered by the Honeywell Forge platform.
“Merging Sundyne’s differentiated products with Honeywell’s leading technology and R&D capabilities positions our business for significant growth,” said Ken West, President and CEO of Honeywell’s ESS segment. “By enhancing our end-to-end process technology and critical equipment offerings, this acquisition allows us to provide improved solutions for our customers.”
Honeywell said Sundyne’s products are well-aligned with key growth areas including refining, petrochemicals, liquefied natural gas (LNG), and renewable fuels. The acquisition follows several strategic moves by Honeywell, including the planned spin-offs of its Aerospace Technologies and Solstice Advanced Materials units, and over $13.5 billion in acquisitions since December 2023.
Other recent transactions include acquisitions of Carrier Global’s Access Solutions unit, Civitanavi Systems, CAES Systems, the LNG business from Air Products, and Johnson Matthey’s Catalyst Technologies business. Honeywell also completed the sale of its Personal Protective Equipment business to Protective Industrial Products last month.
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