Honeywell set to acquire Sundyne for $2.16 billion

Investing.com - Honeywell International (NASDAQ:HON) has entered into an agreement to purchase Sundyne from private equity firm Warburg Pincus for $2.16 billion in cash, a move aimed at expanding its portfolio in energy and sustainability solutions.

The transaction, which is calculated at approximately 14.5 times Sundyne’s 2024 EBITDA on a tax-adjusted basis, is expected to immediately contribute to

Honeywell’s sales growth, segment margins, and adjusted earnings per share (EPS) in the first full year post-acquisition.

Sundyne specializes in the manufacture and support of engineered pumps and gas compressors for process industries.

This acquisition is set to bolster Honeywell’s Energy and Sustainability Solutions (ESS) business segment, enhancing its offerings in refining, petrochemicals, liquefied natural gas (LNG), and renewable fuels.

Vimal Kapur, Chairman and CEO of Honeywell, cited the acquisition as a means to enhance the company’s UOP business and create opportunities in key vertical markets.

The addition of Sundyne’s products is expected to strengthen Honeywell’s position in the process industry and expand its aftermarket services business.

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