MORRISTOWN (dpa-AFX) - Conglomerate Honeywell International Inc.(HON)
announced Thursday that it has agreed to acquire CAES Systems Holdings LLC from
private equity firm Advent International for around $1.9 billion in an all-cash
deal.

The CAES deal is expected to be adjusted earnings per share accretive in the
first full year of ownership. The acquisition is expected to close in the second
half of 2024, subject to customary closing conditions, including receipt of
certain regulatory approvals. It is not subject to any financing conditions.

Arlington, Virginia-based CAES, which provides mission critical electronic
solutions for the aerospace and defense industry, has 13 facilities in North
America, including highly automated manufacturing facilities. The acquisition
will add around 2,200 employees and a deep bench of radio frequency or RF
engineering talent.

The acquisition is projected to enhance Honeywell's defense technology solutions
across land, sea, air and space, including new electromagnetic defense solutions
for end-to-end RF signal management.

Vimal Kapur, Chairman and CEO of Honeywell, said, '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.'



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