Honeywell has purchased one of the energy industry’s largest pump and compressor manufacturers, Sundyne, for $2.16 billion from private equity firm Warburg Pincus. (Source: Shutterstock)
Honeywell has purchased one of the energy industry’s largest pump and compressor manufacturers, Sundyne, for $2.16 billion from private equity firm Warburg Pincus, Honeywell said on June 9.
The move follows Honeywell’s reorganization, called for by private equity firm Elliot Investment Management last November.
Honeywell and Sundyne completed the all-cash transaction, Honeywell said in its announcement. The Sundyne deal will add about 1,000 skilled employees and a large customer base to Honeywell’s profile.
Sundyne manufactures multiple types of pumps and compressors, many of which are used in all phases of the energy industry, from production to pipelines to gas and crude processing.
Honeywell saw Sundyne’s products as an opportunity to integrate its Honeywell Forge platform’s automation and control systems.
“Merging Sundyne’s differentiated products with Honeywell’s leading technology and R&D capabilities positions our business for significant growth,” said Ken West, CEO of Honeywell’s Energy and Sustainability Solutions segment, in the press release. “By enhancing our end-to-end process technology and critical equipment offerings, this acquisition allows us to provide improved solutions for our customers.”
The acquisition follows a push for Honeywell’s reorganization near the end of 2024.
In November 2024, Elliot sent a letter to Honeywell’s board of directors calling for a change in the company’s structure after investing $5 billion in the company. Elliot called for the company to split into two different entities. Honeywell needed the change so that each branch of the company could focus on its primary business, Elliot contended.
In February, Honeywell announced it will split into three publicly listed companies with specific focuses: automation, aerospace technologies and advanced materials.
Since 2023, the company has spent $13.5 billion in acquisitions to both drive growth and simplify its portfolio, the announcement said.
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