Honeywell International (Honeywell) has completed its previously announced acquisition of Sundyne LLC (Sundyne) from private equity firm Warburg Pincus for US$2.16 billion in an all-cash transaction.
“Merging Sundyne’s differentiated products with Honeywell’s leading technology and R&D capabilities positions our business for significant growth,” said Ken West, president and chief executive officer of Honeywell’s Energy and Sustainability Solutions (ESS) segment. “By enhancing our end-to-end process technology and critical equipment offerings, this acquisition allows us to provide improved solutions for our customers.”
Founded in 1970, Sundyne designs, manufacturers, and supports industrial pump and gas compressor products for process fluid and gas applications across the energy, petrochemical, chemical, and industrial markets.
Honeywell plans to use Sundyne’s assets to expand Honeywell UOP’s product offering while also bringing Honeywell Forge to the Sundyne product lineup. Honeywell Forge is an internet of things platform that will enable further digitalization of Sundyne’s equipment, which Honeywell said will enhance reliability and predictive maintenance. According to Honeywell, the company’s research and development capabilities will accelerate new product development in the pumps and compressor space.
The completion of the Sundyne acquisition follows Honeywell’s announcement of the planned spin-offs of its Aerospace Technologies and Solstice Advanced Materials businesses, which will result in three publicly listed industry leaders with distinct strategies and growth drivers. Since December 2023, Honeywell has announced a number of strategic actions to drive organic growth and simplify its portfolio, including US$13.5 billion of accretive acquisitions. In addition to Sundyne, these acquisitions include: the Access Solutions business from Carrier Global, Civitanavi Systems, CAES Systems, the liquefied natural gas business from Air Products, and Johnson Matthey’s Catalyst Technologies Business. Honeywell also completed the sale of its Personal Protective Equipment business to Protective Industrial Products last month.
