- Honeywell (HON, Financial) to acquire Johnson Matthey's Catalyst Technologies for £1.8 billion.
- Deal expands Honeywell's Energy and Sustainability Solutions business.
- Completion expected by the first half of 2026, with significant synergies.
Honeywell (HON) has announced a strategic acquisition of Johnson Matthey's Catalyst Technologies business for £1.8 billion in an all-cash transaction. This acquisition is valued at approximately 11 times the estimated 2025 EBITDA and represents a significant expansion of Honeywell's Energy and Sustainability Solutions (ESS) segment.
The integration of Johnson Matthey's Catalyst Technologies with Honeywell's UOP business is expected to substantially broaden Honeywell's portfolio in refining and petrochemical catalysts and increase its installed base. This move will enable Honeywell to provide comprehensive solutions for the production of lower emission fuels, including sustainable methanol, sustainable aviation fuel, blue hydrogen, and ammonia.
With approximately 1,900 employees operating across the U.S., Europe, and India, Johnson Matthey's Catalyst Technologies will enhance Honeywell's global reach and R&D capabilities. The acquisition is projected to be accretive to Honeywell's earnings in its first full year, reflecting confidence in a smooth integration process.
This acquisition aligns with Honeywell's broader strategic initiatives, which include £11 billion in recent acquisitions and planned spin-offs of its Aerospace Technologies and Advanced Materials businesses. Honeywell aims to close the acquisition by the first half of 2026, pending customary closing conditions and regulatory approvals.
