(RTTNews) - Honeywell International Inc. (HON) said on Monday that it has closed its acquisition of Sundyne from private equity firm, Warburg Pincus, for $2.16 billion in cash. Sundyne is a maker of pumps and gas compressors with a focus on process industries.
The acquisition of Sundyne is expected to be immediately accretive to Honeywell's sales and adjusted profit per share in the first full year of ownership.
Sundyne will unlock growth potential for Honeywell UOP's value chains in refining and petrochemicals, liquefied natural gas, and clean and renewable fuels.
Ken West, CEO of Honeywell's Energy and Sustainability Solutions Segment, said: "Merging Sundyne's differentiated products with Honeywell's leading technology and R&D capabilities positions our business for significant growth. By enhancing our end-to-end process technology and critical equipment offerings, this acquisition allows us to provide improved solutions for our customers."
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