Warburg Pincus finalised the sale of industrial pump and gas compressor manufacturer Sundyne to Honeywell International in a $2.2bn all-cash deal. 

The transaction values Colorado-based Sundyne at 14.5 times its projected 2024 EBITDA, marking a significant private equity exit for Warburg Pincus.

Honeywell’s acquisition strengthens its Energy and Sustainability Solutions (ESS) division, aligning with its strategy to expand in refining, petrochemicals, liquefied natural gas, and clean fuels. The deal comes as Honeywell restructures, following the planned spin-off of its Advanced Materials business and separation of its Aerospace Technologies unit.

Warburg Pincus, which recently joined the DACH Private Equity Conference in Munich, initially acquired Sundyne in 2020, supporting its expansion and product development. Under private equity ownership, Sundyne enhanced its market position by leveraging its expertise in high-performance pumps and compressors for critical industrial applications. The exit reflects the strong demand for industrial assets in the energy transition and infrastructure sectors.

Honeywell’s chair and CEO Vimal Kapur highlighted Sundyne’s extensive installed base and aftermarket service potential as key drivers of the acquisition, positioning it for long-term growth in industrial process markets.