Honeywell announced the completion of its acquisition of Sundyne from private equity firm Warburg Pincus for $2.16 billion in an all-cash transaction.
The acquisition of Sundyne—a leader in the design, manufacturing, and aftermarket support of highly-engineered pumps and gas compressors for process industries—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, best-in-class 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, the combined solution provides a scalable, full-spectrum approach that positions Honeywell as a leader in the energy transition.
"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 Energy and Sustainability Solutions (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."
The completion of this acquisition 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. Since December 2023, Honeywell has announced a number of strategic actions to drive organic growth and simplify its portfolio, including $13.5 billion of accretive acquisitions. In addition to 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.
