Honeywell has completed its $2.16 billion acquisition of Sundyne LLC from private equity firm Warburg Pincus. This all-cash transaction is expected to enhance Honeywell’s product offerings and aftermarket services, integrating important equipment with its automation systems powered by Honeywell Forge.
The acquisition brings around 1,000 skilled employees from Sundyne and is anticipated to positively impact Honeywell’s sales growth and profit margins in its first year. Sundyne is an Arvada company known for its pumps and gas compressors used in process industries. Its established customer relationships and advanced technology are expected to create new growth opportunities for Honeywell’s operations in refining, petrochemicals, liquefied natural gas and renewable fuels.
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.”
This acquisition follows Honeywell’s plans to spin off its Aerospace Technologies and Solstice Advanced Materials divisions, which will lead to three distinct publicly listed companies. Honeywell has recently focused on simplifying its portfolio and driving growth through a series of acquisitions totaling $13.5 billion, including the purchase of several other businesses in addition to Sundyne.
