Honeywell to buy Compressor Controls in $670M deal
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Honeywell (NASDAQ:HON) said Wednesday it agreed to acquire Compressor Controls Corp., a provider of turbomachinery control and optimization solutions, from Clayton, Dubilier & Rice, and Roper Technologies (ROP) for $670M in cash.
Honeywell (HON) said Compressor Controls' combined installed base with Honeywell Process Solutions will create the world's largest operating fleet of critical process machinery, and the acquisition bolsters the company's high growth sustainability portfolio with new carbon capture control solutions.
Honeywell (HON) expects to achieve a cash-basis return on investment of more than 15% by the fifth year that Compressor Controls is part of the company.
Compressor Control Corporation is "an ideal complement to our process solutions portfolio, as it brings an installed base of greater than 14,000 control applications to our portfolio and will enable us to accelerate growth in combination with Forge's industry leading APM capability," Honeywell (HON) said.

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