U.S.-based technology firm Honeywell has agreed to buy compatriot pump and compressor player Sundyne from private equity firm Warburg Pincus in an all-cash transaction.
Valued at $2.16 billion, the transaction is expected to close in Q2 2025, subject to customary closing conditions, including receipt of certain regulatory approvals. The tech firm expects the acquisition to be immediately accretive to its sales growth and segment margin.
The addition of Sundyne’s equipment is expected to boost 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.
“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 , Chairman and CEO of Honeywell.
“Sundyne’s vast installed base of top-of-the-line pumps and compressors will further strengthen Honeywell’s brand in the process industry and create significant opportunities for us to continue expanding our aftermarket services business.”
Honeywell believes Sundyne’s products and technology will unlock strategic growth potential for the value chains in refining and petrochemicals, liquefied natural gas (LNG), and clean and renewable fuels in its UOP business.
“Through the integration of Sundyne’s differentiated suite of products and equipment, combined with the process automation capabilities of our Honeywell Forge technology, we will be able to offer our customers a more comprehensive portfolio of solutions to meet their evolving needs,” said Ken West , President and CEO of Honeywell’s ESS segment.
According to Sundyne’s CEO, Mary Zappone, the combination will add “significant” value to customers, channel partners, and employees, as well as bring benefits that will boost growth and improve efficiency.
This comes on the heels of Honeywell’s strategic partnership with Vår Energi, Aker Solutions, and StS-ISONOR to deliver maintenance and modification services on the assets and projects on the Norwegian Continental Shelf (NCS) operated by Vår Energi.
Before that, the U.S. player completed the acquisition of an LNG process technology and equipment business from Air Products in October , three months after the transaction was first announced .