Honeywell has agreed to acquire Sundyne from private equity firm Warburg Pincus for $2.16 billion in an all-cash transaction. Sundyne is a leader in the design, manufacturing and aftermarket support of highly-engineered pumps and gas compressors used in process industries. The addition of Sundyne’s differentiated equipment will enhance the ability of Honeywell’s Energy and Sustainability Solutions (ESS) business segment to drive innovation and efficiency, while supporting critical energy security needs across the world.
The combination will result in an improved product offering for customers as Honeywell Forge, a leading IoT platform, will enable the digitalization of Sundyne’s equipment to enhance reliability and predictive maintenance. Utilizing Honeywell’s advanced R&D capabilities, the combined company will also be able to further accelerate new product development in the pumps and compressors space.
“By combining Honeywell’s top-tier technology with Sundyne’s leading process industry solutions, this acquisition will further enhance our dynamic Honeywell UOP business and create strategic growth opportunities in attractive verticals,” said Vimal Kapur, chair and CEO of Honeywell. “Sundyne’s vast installed base of top-of-the-line pumps and compressors will further strengthen Honeywell’s brand.”