Honeywell Completes Acquisition of Sundyne, Strengthening Process Industry Capabilities

Honeywell announced that it has completed the acquisition of Sundyne from private equity firm Warburg Pincus for $2.16 billion in an all-cash transaction. Sundyne is a leading designer, manufacturer and aftermarket support provider of high-performance pumps and gas compressors for process industries. The acquisition is expected to immediately increase Honeywell's sales and segment margins and increase adjusted earnings per share in the first full year after the acquisition.

Sundyne's deep customer relationships, best-in-class products and technologies will unlock strategic growth potential for Honeywell UOP's value chain in refining and petrochemicals, liquefied natural gas (LNG) and clean and renewable fuels. The integrated solutions will be unified under the Honeywell Forge platform, providing scalable, full-service solutions, allowing Honeywell to take a leading position in the energy transition.

"Sundyne's differentiated products combined with Honeywell's leading technology and R&D capabilities will enable us to grow our business significantly," said Ken West, president and CEO of Honeywell's Energy and Sustainability Solutions (ESS) division. "This acquisition enables us to provide even better solutions to our customers by enhancing our end-to-end process technologies and key equipment offerings."

The acquisition follows Honeywell's announced plans to spin off its Aerospace Technologies business and Solstice Advanced Materials business, which will create three publicly traded industry leaders with distinct strategies and growth drivers.

Since December 2023, Honeywell has announced a series of strategic initiatives to drive organic growth and simplify its portfolio, including $13.5 billion in accretive acquisitions. In addition to Sundyne, these acquisitions include: Carrier Global's Access Solutions business, Civitanavi Systems, CAES Systems, Air Products' LNG business and Johnson Matthey's Catalyst Technologies business. Honeywell also completed the sale of its personal protective equipment business to Protective Industrial Products last month.