Honeywell Completes Acquisition of Sundyne

Honeywell's acquisition of Sundyne for USD 2.16 billion expands its ESS product portfolio and aftermarket services while integrating critical equipment into Honeywell Forge-enabled automation and control systems.

Honeywell announced the completion of its acquisition of Sundyne from private equity firm Warburg Pincus for USD 2.16 billion in an all-cash transaction. The acquisition of Sundyne, a leader in the design, manufacture and aftermarket support of highly engineered pumps and gas compressors for process industries, is expected to contribute positively to Honeywell's sales growth, segment margins and adjusted earnings per share (EPS) in the first full year of ownership.

Sundyne's strong customer relationships and best-in-class products and technologies will unlock strategic growth potential for Honeywell UOP's value chains in refining and petrochemicals, liquefied natural gas (LNG) and clean and renewable fuels. Integrated solutions brought together under the Honeywell Forge platform will provide a scalable and comprehensive approach, positioning Honeywell as a leader in energy transformation.

Ken West, President and CEO of Honeywell's Energy and Sustainability Solutions (ESS) segment, said, "Combining Sundyne's differentiated products with Honeywell's leading technology and R&D capabilities positions our business for significant growth. This acquisition strengthens our end-to-end process technology and critical equipment offering, enabling us to provide more advanced solutions for our customers."

The completion of this acquisition came following Honeywell's announcement of plans to separate its Aerospace Technologies and Solstice Advanced Materials business units. The separation will result in three separate publicly traded sector leaders with different strategies and growth dynamics. Since December 2023, Honeywell has announced value-accretive acquisitions totaling USD 13.5 billion to accelerate organic growth and simplify its portfolio. In addition to Sundyne, these acquisitions include Access Solutions from Carrier Global, Civitanavi Systems, CAES Systems, LNG business from Air Products and Catalyst Technologies Business from Johnson Matthey. Honeywell also completed the sale of its Personal Protective Equipment (PPE) business unit to Protective Industrial Products last month.

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