Honeywell buys pump maker Sundyne for $2.2bn
By Benjamin Chiou
Date: Tuesday 04 Mar 2025
(Sharecast News) - American conglomerate Honeywell International on Tuesday announced the $2.2bn acquisition of pumps and gas compressors manufacturer Sundyne from private equity firm Warburg Pincus.
The all-cash transaction values Colorado-based Sundyne at 14.5 times 2024 EBITDA and will beef up Honeywell's Energy and Sustainability Solutions (ESS) business division, the company said in a statement.
"Sundyne's deep customer relationships, best-in-class products and technology will unlock strategic growth potential for Honeywell UOP's value chains in refining and petrochemicals, liquefied natural gas and clean and renewable fuels," Honeywell said.
The acquisition follows Honeywell's recently announcement separation of its Aerospace Technologies business and the spin-off of its Advanced Materials business, which will see the company split into three publicly listed entities.
Commenting on the deal, Honeywell's chair and chief executive Vimal Kapur said the deal will create "strategic growth opportunities in attractive verticals".
"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."
Shares were down 0.6% at. $210.84 by 1001 ET.
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