Honeywell has finalized its acquisition of Sundyne, a manufacturer specializing in pumps and gas compressors for process industries. The deal, valued at $2.16 billion in cash, transfers Sundyne from private equity firm Warburg Pincus to Honeywell.
The company expects the acquisition to contribute positively to sales growth, segment margins, and adjusted earnings per share within the first full year of ownership. According to Honeywell, integrating Sundyne’s products and technology will enhance offerings across refining, petrochemicals, liquefied natural gas (LNG), and clean and renewable fuels. The combined solution will operate under the Honeywell Forge platform.
Ken West, President and CEO of Honeywell’s Energy and Sustainability Solutions segment, said: “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.”
This transaction follows recent announcements by Honeywell regarding plans to spin off its Aerospace Technologies and Solstice Advanced Materials businesses. These changes are expected to create three publicly listed companies with distinct strategies.
Since December 2023, Honeywell has taken several steps to drive organic growth and streamline its portfolio. These actions include $13.5 billion in acquisitions such as Access Solutions from Carrier Global, Civitanavi Systems, CAES Systems, the LNG business from Air Products, and Johnson Matthey’s Catalyst Technologies Business. Last month, Honeywell also completed the sale of its Personal Protective Equipment business to Protective Industrial Products.
Honeywell operates globally across various sectors including aerospace technologies, industrial automation, building automation, and energy and sustainability solutions.
The company noted that statements about future activities or results are forward-looking and subject to risks related to economic conditions or other external factors.
