Honeywell announced its agreement to acquire Sundyne from Warburg Pincus for $2.16 billion in an all-cash transaction, representing approximately 14.5x 2024 EBITDA on a tax-adjusted basis. The acquisition will enhance Honeywell’s Energy and Sustainability Solutions segment by expanding its capabilities in refining, petrochemicals, liquefied natural gas, and renewable fuels. Sundyne’s specialized pumps and gas compressors will integrate with Honeywell Forge, improving digitalization, predictive maintenance, and efficiency.

CEO Vimal Kapur emphasized that the acquisition strengthens Honeywell’s UOP business and expands its aftermarket services. Sundyne, headquartered in Arvada, Colorado, brings 1,000 employees and a strong installed base, creating opportunities for revenue synergies with Honeywell’s process licensing and modular solutions. Honeywell expects the acquisition to be immediately accretive to sales growth, segment margins, and adjusted EPS in the first full year of ownership.

The acquisition aligns with Honeywell’s broader strategy of portfolio transformation, following previous deals totaling $9 billion since December 2023, including the acquisition of Carrier Global’s Access Solutions business and divestiture of its Personal Protective Equipment unit. The transaction is expected to close in Q2 2025, subject to regulatory approvals.