Honeywell has announced an agreement to acquire Sundyne from Warburg Pincus for $2.16 billion in an all-cash deal, representing approximately 14.5 times Sundyne’s projected 2024 EBITDA on a tax-adjusted basis. Sundyne, headquartered in Arvada, Colorado, designs and manufactures advanced pumps and gas compressors for process industries. The acquisition will strengthen Honeywell’s Energy and Sustainability Solutions segment by adding Sundyne’s specialized equipment, supporting Honeywell’s growth in refining, petrochemicals, liquefied natural gas, and clean fuels. Honeywell plans to integrate Sundyne’s products with its Honeywell Forge IoT platform to improve reliability and predictive maintenance. The transaction is expected to be immediately accretive to Honeywell’s sales growth, segment margin, and adjusted EPS in the first full year post-closing.
Sundyne brings approximately 1,000 employees and a substantial installed base generating recurring aftermarket revenue. Honeywell aims to leverage its advanced R&D capabilities and Sundyne’s customer relationships to drive new product development and expand its aftermarket services. This move follows Honeywell’s recent portfolio transformation, including acquisitions worth about $9 billion since December 2023 and the planned separation of its Aerospace Technologies and Advanced Materials businesses. Honeywell's acquisition of Sundyne is expected to close in Q2 2025, subject to customary closing conditions, including receipt of certain regulatory approvals.
