Honeywell has completed its acquisition of CAES Systems Holdings LLC from private-equity firm Advent International for $1.9 billion in an all-cash deal.
This acquisition strengthens Honeywell’s defense technology solutions across land, sea, air and space and is expected to drive growth in its Aerospace Technologies business, the company said.
CAES expands Honeywell’s defense and space portfolio with scalable solutions that boost production and strengthen positions on key platforms like the F-35, EA-18G, AMRAAM and GMLRS. Honeywell will also introduce its existing technologies on new platforms, including the Navy’s SPY-6 radar and UAS and C-UAS systems.
“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 is the fourth transaction Honeywell has announced this year as part of its capital deployment strategy, following its June acquisition of Carrier’s Global Access Solutions business.