Honeywell Technologies has completed its acquisition of Johnson Matthey’s Catalyst Technologies business for £1.325 billion in an all-cash transaction. The acquisition expands Honeywell Technologies’ portfolio across refining, petrochemicals and renewable fuels.
Johnson Matthey’s catalyst capabilities will be combined with Honeywell Technologies’ existing process technologies, automation products and digital solutions.
The transaction is intended to create a more comprehensive offering for customers seeking to improve industrial efficiency, reduce emissions and modernize energy and chemical production operations.
Catalysts are materials that accelerate chemical reactions without being consumed in the process.
They are used extensively in refining, petrochemical production, renewable fuels, and other industrial processes where operators need to improve yields, manage energy consumption, and meet product specifications.
Johnson Matthey’s Catalyst Technologies business brings specialized catalyst expertise and an established customer base across these markets.
Honeywell Technologies expects the acquisition to expand its global installed base and enable it to serve customers across a wider range of industrial applications.
The combined portfolio can support customers across multiple stages of a project, including process design, catalyst selection, equipment, control systems, automation and ongoing digital optimization.
This end-to-end model may help industrial operators reduce the complexity of working with several technology suppliers across the same facility.
Honeywell Technologies can also connect catalyst and process performance data with its existing automation and digital tools.
The company’s Honeywell Technologies Forge intelligence layer is designed to analyze operational information and help customers improve reliability, efficiency and asset performance.
Combining process technologies with automation can provide operators with a more complete view of how equipment, catalysts, and production systems are performing.
The acquisition also strengthens Honeywell Technologies’ exposure to renewable fuels as energy companies seek technologies that can support lower-emission production processes.
Renewable fuel facilities often require specialized catalysts and process systems to convert biological or waste-based feedstocks into usable fuels.
Honeywell Technologies believes the expanded portfolio will help customers address energy security requirements while pursuing operational and environmental objectives.
The transaction follows the separation of Honeywell Technologies’ Aerospace Technologies business.
Honeywell Aerospace began operating as an independent publicly traded company under the Nasdaq ticker HONA on June 29, 2026.
That separation followed the October 2025 spin-off of Solstice Advanced Materials, which trades on Nasdaq under the ticker SOLS.
Following those transactions, Honeywell Technologies is operating as a pure-play automation company focused on buildings, industrial operations and process industries.
The company has completed approximately $11.5 billion of acquisitions since 2023.
Those transactions include Compressor Controls Corporation, SCADAfence, Carrier Global’s Access Solutions business, Air Products’ liquefied natural gas business, Sundyne and Li-ion Tamer.
The acquisitions have expanded Honeywell Technologies’ capabilities across cybersecurity, industrial control, access management, liquefied natural gas equipment, pumps, compressors and battery safety.
Honeywell Technologies has also continued simplifying its business portfolio through divestitures.
The company completed the sale of its personal protective equipment business in 2024.
It has also announced plans to sell its Productivity Solutions and Services and Warehouse and Workflow Solutions businesses.
Those transactions are expected to close during the second half of 2026.
The portfolio changes are intended to concentrate Honeywell Technologies around automation, industrial software and process technology.
The Johnson Matthey acquisition supports that strategy by adding specialized intellectual property, technical talent and customer relationships in catalyst-driven industrial markets.
Honeywell Technologies employs more than 50,000 people and serves customers across the building, industrial and process sectors.
The company plans to use its technical expertise, installed equipment base and operational data to help industrial customers move from conventional automation toward increasingly autonomous operations.
KEY QUOTE:
“This acquisition significantly enhances Honeywell Technologies’ ability to deliver end-to-end solutions that help our customers drive efficiency, reduce emissions and accelerate energy security goals. By combining Johnson Matthey’s differentiated catalyst expertise with our leading technologies and digital capabilities, we are creating a strong platform for future growth while enabling our customers to immediately unlock the benefits of a more robust set of offerings.”
Ken West, President and CEO of Process Technology at Honeywell Technologies
