Honeywell to acquire aerospace technology firm CAES for $1.9bn

US manufacturing company Honeywell has announced plans to buy aerospace technology provider CAES for $1.9 billion after agreeing to an all-cash deal with Advent International, the private equity firm that currently owns CAES.

“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 Vimal Kapur, chairman and CEO of Honeywell. “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.”

“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 Mike Kahn, president and CEO of CAES.