(Reuters) -Honeywell International said on Tuesday it will buy pump-maker Sundyne from private-equity firm Warburg Pincus for $2.16 billion in cash.
The industrial and aerospace giant has been on a deal-making spree under CEO Vimal Kapur, shedding assets that are not focused on the aviation, automation and energy sectors.
Last month, Honeywell announced its plans to split into three independently listed companies, breaking up one of America’s last standing conglomerates just months after activist investor Elliott Management took a $5 billion stake in the company.
Sundyne manufactures centrifugal pumps and compressors, and has a presence in Europe and Asia.
Warburg acquired Sundyne in 2020 from funds advised by BC Partners Advisors L.P. and The Carlyle Group in a private deal.
(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Shreya Biswas and Leroy Leo)
Comments