Honeywell completes $2.16bn purchase of Sundyne

US industrial tech firm Honeywell has completed its $2.16bn acquisition of global industrial pump manufacturer Sundyne.

The deal will result in an improved product offering for customers, as Honeywell Forge, an IoT platform will enable the digitalisation of Sundyne’s equipment to enhance reliability and predictive maintenance.

Using Honeywell’s research and development capabilities, the combined company will also be able to further accelerate new product development in the pumps and compressors space.

Ken West, President and CEO of Honeywell’s Energy and Sustainability Solutions (ESS) segment, said the acquisition will enable improved solutions for customers.

“Merging Sundyne’s differentiated products with Honeywell’s technology and R&D capabilities positions our business for significant growth,” he added.

The acquisition was announced in March and is expected to be immediately accretive to Honeywell’s sales growth and segment margins, in addition to adjusted EPS in the first full year of ownership.

Honeywell is taking on a different shape through its M&A moves. Since December 2023, Honeywell has announced around $11bn of investment through acquisitions, including Air Products’ LNG business and, more recently, Johnson Matthey’s Catalyst Technologies. It all goes towards an effort to become more vertically integrated.