In a bold move that underscores its aggressive expansion strategy, Honeywell announced Tuesday that it has struck a deal to acquire pump and gas compressor manufacturer Sundyne for a hefty $2.16 billion. The acquisition from private equity firm Warburg Pincus marks another major step in the industrial conglomerate’s sweeping restructuring plan, with Honeywell vowing to deploy at least $25 billion by the close of 2025.
A Power Move in the Process Industry
With this all-cash transaction, Honeywell is not just adding another asset to its empire—it’s fortifying its presence in refining, petrochemicals, liquefied natural gas (LNG), and renewable fuels. Sundyne’s legacy of cutting-edge pump and compressor technology will be a powerful addition to Honeywell’s arsenal, promising new opportunities in aftermarket services.
“Sundyne’s vast installed base of high-performance pumps and compressors will reinforce Honeywell’s position in the process industry and unlock significant potential for expansion,” said Vimal Kapur, Honeywell’s chair and CEO, in a statement.
A Relentless Buying Spree
This acquisition is the latest in Honeywell’s multi-billion-dollar shopping spree, which has seen the conglomerate deploy at least $9 billion since late 2023. The spree has included high-profile purchases such as Carrier Global’s Access Solutions unit, Civitanavi Systems, CAES Systems, and Air Products’ LNG business.
