Honeywell has agreed to acquire CAES Systems Holdings LLC from private equity firm Advent International, for about $1.9 billion in an all-cash transaction.
The acquisition will enhance Honeywell’s defense technology solutions across land, sea, air and space, including new electromagnetic defense solutions for end-to-end radio frequency signal management.
“This acquisition further positions Honeywell at the forefront of the defense industry’s most dynamic sectors and sets the tempo for continued growth across our aerospace business,” said Honeywell Chairman and CEO Vimal Kapur. “With the integration of CAES’ solutions and capabilities, we will fortify our existing defense offerings, while also expanding our capabilities in pivotal areas like RF, radar and sensing technologies, to ensure a market-leading position in areas that are critical for global security.”
The combined company will grow Honeywell’s production and upgrade positions on critical platforms that include F-35, EA-18G, AMRAAM and GMLRS, while introducing offerings on new platforms like Navy Radar and UAS and C-UAS technologies.
“The combination of our talented teams will diversify and deepen our expertise and specialized capabilities that enable us to scale current offerings and innovate new ones across critical military platforms,” said Honeywell Aerospace Technologies President and CEO Jim Currier. “CAES’ trusted position with top U.S. defense customers strengthens our existing relationships as we shape the future of the defense industry together.”
Formerly known as Cobham Advanced Electronic Solutions, CAES has 13 facilities in North America, including automated manufacturing facilities with fully automated test and tuning processes. The acquisition will add approximately 2,200 employees and RF engineering talent.
“As a trusted supplier and mission partner to our customers across advanced RF capabilities, I couldn’t be more excited to see CAES join the Honeywell team and work together to build on the outstanding expertise of both companies,” said CAES President and CEO Mike Kahn. “Our extraordinary talent, RF breadth and world-class manufacturing facilities will offer new opportunities and further drive innovation for our industry.”
Additionally, Mike Kahn achieved the CEO of the Year award at the 2022 Chief Officer Awards. Read more here.