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Honeywell to Acquire Compress Controls Corporation, Driving the Energy Transition Through Leading Automation and Control Portfolio

📅 Date:

🔖 Topics: Acquisition

🏢 Organizations: Honeywell, Clayton Dubilier Rice

Honeywell (Nasdaq: HON) today announced it has agreed to acquire Compressor Controls Corporation (CCC) from INDICOR, LLC, which is owned by funds affiliated with private equity firm Clayton, Dubilier & Rice, LLC and Roper Technologies, Inc., for $670 million, which represents ~15x 2023E EBITDA on a tax adjusted basis, in an all-cash transaction. CCC is a leading provider of turbomachinery control and optimization solutions, including control hardware, software and services, and primarily serves the LNG, gas processing, refining and petrochemical segments.

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