Honeywell Completes $2.16 Billion Acquisition of Sundyne to Drive Energy Transition

On June 9, 2025, Honeywell announced the completion of its $2.16 billion all-cash acquisition of Sundyne from private equity firm Warburg Pincus. Sundyne, a leading provider of precision pumps and gas compressors for process industries, is expected to immediately boost Honeywell’s revenue and profit margins, while also increasing adjusted earnings per share in the first full year post-acquisition.

The integration of Sundyne’s advanced products, technologies, and strong customer relationships will enhance Honeywell UOP’s value chain in refining, petrochemicals, liquefied natural gas (LNG), and clean and renewable fuels. These offerings will be incorporated into the Honeywell Forge platform, creating scalable, end-to-end solutions and reinforcing Honeywell’s leadership in the energy transition sector.

Strategic Focus and Expansion

Honeywell has aggressively reshaped its portfolio through spin-offs and acquisitions:

• In October 2024, Honeywell announced the spin-off of its high-performance materials business, followed by plans in February 2025 to separate its automation and aerospace units, forming three independent, publicly traded companies by late 2026.
• Recent acquisitions include Carrier Global’s access solutions unit, Civitanavi Systems, CAES Systems, and Air Products’ LNG operations, collectively valued at $13.5 billion.
• On May 22, 2025, Honeywell agreed to acquire Johnson Matthey’s catalyst technologies unit for £1.8 billion (approximately $1.74 billion), with the deal expected to close in early 2026.

Additionally, Honeywell has divested its personal protective equipment business, sold to PIP for $1.33 billion.

Performance and Investments

Honeywell reported $38.5 billion in 2024 sales, a 5% year-over-year increase, with organic sales growth of 3% exceeding expectations. The company plans to allocate $25 billion by 2025 for capital expenditures, dividends, and strategic acquisitions to drive growth.