Honeywell Closes Acquisition Of CAES Systems From Advent International For About $1.9 Bln Cash

(RTTNews) - Honeywell International, Inc. (HON) announced Wednesday the completion of its acquisition of CAES Systems Holdings LLC from private equity firm Advent International for approximately $1.9 billion in an all-cash transaction.

The acquisition enhances Honeywell's defense technology solutions across land, sea, air and space and is also expected to create favorable tailwinds for growth across Honeywell's Aerospace Technologies business.

CAES expands Honeywell's current defense and space portfolio with scalable offerings that enable Honeywell to both increase production and upgrade positions on critical platforms that include F-35, EA-18G, AMRAAM and GMLRS.

Honeywell will also benefit from the ability to introduce its existing offerings on new platforms, such as the Navy Radar (SPY-6) and UAS and C-UAS technologies.

CAES marks the fourth transaction Honeywell has announced this year as part of its disciplined capital deployment strategy.

Honeywell is focused on high-return acquisitions that will drive future growth across its portfolio, which is aligned with the three compelling megatrends of automation, the future of aviation and energy transition.