Honeywell Completes Acquisition of CAES

Honeywell (NASDAQ: HON) today announced the completion of its acquisition of CAES Systems Holdings LLC (CAES) 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.

"Honeywell's acquisition of CAES builds on our leading position in defense technologies, while also strengthening and expanding the solutions and capabilities we can offer across multiple critical military platforms," said Honeywell Aerospace Technologies President and CEO Jim Currier. "Together with CAES, we will continue to set the standard for excellence in the industry and deliver specialized solutions that will keep our customers at the forefront of innovation."

CAES marks the fourth transaction Honeywell has announced this year as part of its disciplined capital deployment strategy. It follows Honeywell's recent completion of its acquisition of Carrier's Global Access Solutions business in June 2024. The company 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.