Honeywell To Acquire Compressor Controls Corp. - Quick Facts

(RTTNews) - Honeywell (HON) has agreed to acquire Compressor Controls Corporation from INDICOR, LLC, which is owned by funds affiliated with private equity firm Clayton, Dubilier & Rice, LLC and Roper Technologies, Inc., for $670 million. CCC is a provider of turbomachinery control and optimization solutions, including control hardware, software and services, and primarily serves the LNG, gas processing, refining and petrochemical segments. Honeywell said the acquisition will be integrated into Process Solutions business.

CCC is headquartered in Des Moines, IA with offices located in major oil and gas production regions. CCC's EBITDA margins are accretive to Honeywell. The company expects the acquisition to be immediately accretive to GAAP EPS and to achieve approximately 15% cash-basis return on investment in fifth year post-closing.