Honeywell announced the completion of its acquisition of Sundyne from private equity firm Warburg Pincus for $2.16 billion in an all-cash transaction. Sundyne is a leader in the design, manufacturing, and aftermarket support of advanced pumps and gas compressors for process industries. The deal is expected to be immediately accretive to Honeywell’s sales growth and segment margins, as well as to adjusted EPS in the first full year of ownership.
Sundyne’s deep customer relationships, products, and technology will unlock strategic growth potential for Honeywell UOP’s value chains in refining and petrochemicals, liquefied natural gas (LNG) and clean and renewable fuels.
Unified under the Honeywell Forge platform, this combined solution provides a scalable, full-spectrum approach that positions Honeywell as a leader in the energy transition.
The completion of this deal follows Honeywell’s announcement of the planned spin-offs of its Aerospace Technologies and Solstice Advanced Materials businesses, which will result in three publicly listed industry leaders with distinct strategies and growth drivers. And since December 2023, Honeywell has announced several strategic actions to drive organic growth and simplify its portfolio, including $13.5 billion of accretive acquisitions.
Along with Sundyne, these acquisitions include: the Access Solutions business from Carrier Global, 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.
KEY QUOTE:
“Merging Sundyne’s differentiated products with Honeywell’s leading technology and R&D capabilities positions our business for significant growth. By enhancing our end-to-end process technology and critical equipment offerings, this acquisition allows us to provide improved solutions for our customers.”
Ken West, President and CEO of Honeywell’s Energy and Sustainability Solutions (ESS) segment
