Honeywell Technologies completes first acquisition after spin-offs for $1.8B

Charlotte-based Honeywell Technologies said Friday it bought a London business for about £1.3 billion, equivalent to $1.8 billion.

Its purchase of Johnson Matthey’s Catalyst Technologies completes its first deal as an independent company. The deal, which was first announced in May 2025, was an all-cash transaction.

Honeywell Technologies became its own public company in June, after completing its final division that resulted in three businesses.

The purchase of Catalyst Technologies broadens Honeywell Technologies’ capabilities in refining, renewable fuels and petrochemicals, it said in a statement. The company works to develop automation solutions for the industrial sector.

“This acquisition significantly enhances Honeywell Technologies’ ability to deliver end-to-end solutions that help our customers drive efficiency, reduce emissions and accelerate energy security goals,” said Ken West, CEO of Process Technology at Honeywell Technologies.

According to its website, this deal will help with Honeywell Technologies’ efforts to support responsible energy expansion. The company lists acquisition benefits including expanding chemical capabilities, strengthening purification solutions and broadening lower-carbon energy pathways.

“Customers can now engage a single, integrated partner from initial design and catalyst supply through process and operational optimization,” the Honeywell Technologies expansion brochure said. A catalyst is a substance that can accelerate a chemical reaction, making the reactions more energy efficient.

About the Honeywell spin-offs

Honeywell Technologies has over 1,100 employees in Charlotte and more than 50,000 employees total.

While Honeywell was formerly based in Charlotte, Honeywell Technologies is the only company still headquartered in the city. Honeywell Aerospace is based in Phoenix and Solstice Advanced Materials is based in New Jersey.