Honeywell to acquire Sundyne from Warburg Pincus for $2.16B in cash

Honeywell (HON) announced that it has agreed to acquire Sundyne from private equity firm Warburg Pincus for $2.16B in an all-cash transaction. This represents approximately 14.5x 2024 EBITDA on a tax-adjusted basis. 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 business segment to drive innovation and efficiency, while supporting critical energy security needs across the world. The acquisition is expected to be immediately accretive to Honeywell’s sales growth and segment margin, as well as to adjusted EPS in the first full year of ownership. Honeywell’s acquisition of Sundyne is expected to close in Q2 2025, subject to customary closing conditions, including receipt of certain regulatory approvals.